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

RoboForex Team RoboForex

EUR/USD, “Euro vs US Dollar”

EURUSD is testing the Tenkan-Sen line of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 1.0770 is expected, followed by a decline to 1.0575. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.0905, which will mean further growth to 1.1005.

USD/CAD, “US Dollar vs Canadian Dollar”

USDCAD is testing the resistance area. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3570 is expected, followed by a rise to 1.3735. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 1.3390, which will mean a further decline to 1.3295.

USD/JPY, “US Dollar vs Japanese Yen”

USDJPY is growing in a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 138.80 is expected, followed by a rise to 141.85. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 135.85, which will mean a further decline to 134.95.

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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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