EUR/USD, “Euro vs US Dollar”
EUR/USD is correcting within a bearish channel. The pair is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the Cloud’s lower boundary at 1.0815 is expected, followed by a rise to 1.0955. A rebound from the lower boundary of the bullish channel could signal a rise. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.0775, indicating a further decline to 1.0685. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price finding a foothold above 1.0885.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is testing the resistance area. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.6100 is expected, followed by a rise to 0.6245. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 0.6050, indicating a further decline to 0.5960. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the descending corrective channel, with the price establishing itself above 0.6145.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is rebounding from the upper boundary of the descending channel. The pair is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the Cloud’s lower boundary at 1.3645 is expected, followed by a rise to 1.3795. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.3605, indicating a further decline to 1.3505. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price finding a foothold above 1.3745.
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