Ichimoku cloud analysis: USD/CHF, USD/CAD, CAD/JPY
|USD/CHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9265; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.9225 and then resume moving upwards to reach 0.9375. Another signal in favor of 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 0.9105. In this case, the pair may continue falling towards 0.9015.
USD/CAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.3357; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3285 and then resume moving upwards to reach 1.3525. Another signal in favor of 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 1.3175. In this case, the pair may continue falling towards 1.3085.
CAD/JPY, “Canadian Dollar vs Japanese Yen”
CADJPY is trading at 78.86; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 79.10 and then resume moving downwards to reach 77.25. Another signal in favor of 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 79.75. In this case, the pair may continue growing towards 80.65.
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