EUR/USD, “Euro vs US Dollar”

EURUSD is trading at 1.1771; 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 1.1795 and then resume moving downwards to reach 1.1655. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.1855. In this case, the pair may continue growing towards 1.1945.

EURUSD

USD/CAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2663; 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 1.2645 and then resume moving upwards to reach 1.2865. Another signal in favor of a further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2570. In this case, the pair may continue falling towards 1.2480. To confirm further growth, the asset must break the resistance level and fix above 1.2725, thus breaking the pattern’s upside border.

USDCAD

GBP/USD, “Great Britain Pound vs US Dollar”

GBPUSD is trading at 1.3794; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3825 and then resume moving downwards to reach 1.3655. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3870. In this case, the pair may continue growing towards 1.3965. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1.3740.

GBPUSD

 

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Editors’ Picks

EUR/USD hovers around 1.1600 amid worsening mood

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GBP/USD continues to edge lower toward 1.3700 ahead of US data

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Bank of Canada Rate Decision: Inflation prospects headline policy review Premium

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