EUR/USD, “Euro vs US Dollar”
EURUSD is trading at 1.2023; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen the cloud’s upside border at 1.2065 and then resume moving downwards to reach 1.1885. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2185. In this case, the pair may continue growing towards 1.2275.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7249; 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 0.7265 and then resume moving downwards to reach 0.7145. Another signal in favor of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7385. In this case, the pair may continue growing towards 0.7475. To confirm further decline, the asset must break the pattern’s downside border and fix below 0.7210.
USD/CHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9157; 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 0.9095 and then resume moving upwards to reach 0.9255. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.8965. In this case, the pair may continue falling towards 0.8875.
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