Ichimoku cloud analysis: EUR/USD, USD/CAD, USD/JPY

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EUR/USD is trading at 1.2007; 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 1.2045 and then resume moving downwards to reach 1.1865. 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 1.2125. In this case, the pair may continue growing towards 1.2205.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD is trading at 1.2297; 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 1.2335 and then resume moving downwards to reach 1.2115. 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 1.2485. In this case, the pair may continue growing towards 1.2575.

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY is trading at 109.38; 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 109.15 and then resume moving upwards to reach 111.35. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 108.15. In this case, the pair may continue falling towards 107.25. To confirm further growth, the asset must break the descending channel’s upside border and fix above 110.25.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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