AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD is trading at 0.6774; 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 0.6790 and then resume moving downwards to reach 0.6705. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6825. In this case, the pair may continue growing towards 0.6905.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is trading at 0.6446; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6420 and then resume moving upwards to reach 0.6505. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 0.6375. In this case, the pair may continue falling towards 0.6295.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is trading at 1.3289; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3265 and then resume moving upwards to reach 1.3395. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3230. In this case, the pair may continue falling towards 1.3145. After breaking Triangle’s upside border and fixing above 1.3335, the price may continue moving upwards.
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Editors’ Picks
EUR/USD stabilizing as US coronavirus cases continue to climb
EUR/USD is trading around 1.1250, pressured amid concerns about the spread of coronavirus in the US. Traders are digesting the upbeat Non-Farm Payrolls figures already out ahead of the long US weekend.
GBP/USD attempting a bounce amid thin liquidity
GBP/USD is closer to 1.25, off the lows. Top-level EU-UK Brexit talks have been postponed until next week amid disagreements. The UK is continuing to reopen while US coronavirus cases are surging.
Bitcoin must endorse the time of Ethereum has come
The crypto market remains in a choke point, and after signs of a possible upward shift yesterday, the market was once again disappointed to see Bitcoin in the low range of the $8900 to $9000 choke point.
Gold: There is a bearish signal on the 4-hour chart
Price action has been slow on Friday due to the bank holiday in the US as the nation celebrates independence day. This week has been an interesting one as there has been some good economic data but some very bad coronavirus news in the US.
S&P 500: Futures struggle to refresh two-week top
S&P 500 Futures prints mild loss of 0.10% while declining to 3,126 during the initial hour of Tokyo session on Friday. In doing so, the risk barometer fails to extend the previous four-day winning streak.