EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1288; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1295 and then resume moving downwards to reach 1.1125. Another signal in favour of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.1345. In this case, the pair may continue growing towards 1.1435. To confirm further decline, the asset must break the support level and fix below 1.1205. This movement will indicate a breakout of the pattern’s downside border.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6784; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6790 and then resume moving downwards to reach 0.6665. Another signal in favour 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 0.6840. In this case, the pair may continue growing towards 0.6935.
AUDCAD, “Australian Dollar vs Canadian Dollar”
AUDCAD is trading at 0.9111; the instrument is moving aboveу Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.9065 and then resume moving upwards to reach 0.9235. Another signal in favour of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.9005. In this case, the pair may continue falling towards 0.8910. To confirm further growth, the asset must break the resistance level and fix above 0.9155. This movement will indicate the completion of a Head& Shoulders reversal pattern.
