EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.0045 and then resume moving downwards to reach 0.9810. 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 1.0115. In this case, the pair may continue growing towards 1.0205. To confirm a further downtrend, the price must break the bullish channel’s downside border and fix below 0.9925.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is testing the support area. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6915 and then resume moving downwards to reach 0.6735. 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 0.6965. In this case, the pair may continue growing towards 0.7055. To confirm a further downtrend, the price must break the downside border of the Triangle pattern and fix below 0.6805.
CADCHF, “Canadian Dollar vs Swiss Franc”
CADCHF is correcting within the uptrend. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7425 and then resume moving upwards to reach 0.7570. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7355. In this case, the pair may continue falling towards 0.7265.
