NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6933; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6990 and then resume moving downwards to reach 0.6830. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7055. In this case, the pair may continue growing towards 0.7145.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2599; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2566 and then resume moving upwards to reach 1.2755. Another signal in favor of a further uptrend will be a rebound from the neckline of a Head & Shoulders reversal pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2455. In this case, the pair may continue falling towards 1.2365.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 109.31; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 110.50 and then resume moving downwards to reach 108.15. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 110.60. In this case, the pair may continue growing towards 111.45. To confirm further decline, the asset must break the rising channel’s downside border and fix below 108.95.
