Ichimoku cloud analysis: EUR/USD, USD/JPY, USD/CAD
|EUR/USD, “Euro vs US Dollar”
EURUSD is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0840 is expected, followed by growth to 1.1055. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.0775, which will mean further falling to 1.0685.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY is correcting in a descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 129.65 is expected, followed by growth to 134.10. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 128.65, which will mean further falling to 127.75. The growth can be confirmed by a breakaway of the upper border of the descending channel and securing above 131.45.
USD/CAD, “US Dollar vs Canadian Dollar”
USDCAD has secured under the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line of the Cloud at 1.3360 is expected, followed by falling to 1.3165. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.3465, which will mean further growth to 1.3555.
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.