EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1270; 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 1.1285 and then resume moving downwards to reach 1.1160. 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 1.1325. In this case, the pair may continue growing towards 1.1415. To confirm further decline, the asset must break the support level and fix below 1.1225.
CADCHF, “Canadian Dollar vs Swiss Franc”
CADCHF is trading at 0.7155; 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 0.7170 and then resume moving downwards to reach 0.7045. 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 0.7275. In this case, the pair may continue growing towards 0.7365.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7128; 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 0.7145 and then resume moving downwards to reach 0.6985. Another signal in favour of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7195. In this case, the pair may continue growing towards 0.7285. To confirm further decline, the asset must break the cloud’s downside border and fix below 0.7030.
