NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is rebounding from the upper boundary of the descending channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.6105 is expected, followed by a rise to 0.6265. An additional signal confirming the rise could be a rebound from the upper boundary of the descending channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price finding a foothold below 0.6075, which will indicate a further decline to 0.5985. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the ascending channel, with the price establishing itself above 0.6205.
BRENT
Brent has secured above the lower boundary of the bullish channel. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 80.05 is expected, followed by a decline to 75.20. An additional signal confirming the decline could be a rebound from the upper boundary of the bearish channel. The scenario could be cancelled by a breakout of the upper boundary of the Cloud, with the price gaining a foothold above 83.05, which will signal a further rise to 87.00.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is declining within a bearish channel. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.3420 is expected, followed by a decline to 1.3220. An additional signal confirming the decline could be a rebound from the upper boundary of the descending channel. The scenario could be cancelled by a breakout of the upper boundary of the Cloud, with the price finding a foothold above 1.3505, which will indicate a further rise to 1.3600.
