Ichimoku cloud analysis: EUR/USD, AUD/CAD, USD/CAD
|EUR/USD, "Euro vs US Dollar"
The pair is trading above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud at 1.1825 is expected, followed by growth to 1.1995. The growth will be additionally supported by a bounce off the lower border of the ascending channel. The scenario will no longer be valid if the lower border of the Cloud is broken and the quotations close under 1.1725, which will mean further falling to 1.1635. The growth will be confirmed by a breakaway of the upper border of the bearish channel and securing above 1.1905.
AUD/CAD, "Australian Dollar vs Canadian Dollar"
The currency pair is trading at 0.9635 above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud at 0.9605 is expected, followed by growth to 0.9755. The growth will additionally be confirmed by a bounce off the upper border of the descending channel that the buyers have broken away upwards confidently. The scenario can be canceled by a breakaway of the lower border of the Cloud and securing under 0.9515, which will entail further falling to 0.9425.
USD/CAD, "US Dollar vs Canadian Dollar"
The currency pair is trading above the Ichimoku Cloud, suggesting an uptrend. A test of the upper border of the Cloud at 1.2555 is expected, followed by growth to 1.2835. The growth will be supported by a bounce off the support level. The scenario will be canceled by a breakaway of the lower border of the Cloud and securing under 1.2455, which will mean further falling to 1.2365. The growth will be confirmed by a breakaway of the upper border of the descending channel and securinh above 1.2645.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.