Ichimoku cloud analysis: EUR/USD, USD/JPY, USD/CAD
EUR/USD, “Euro vs US Dollar”
EUR/USD has secured under the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. The Tenkan-Sen line is expected to be tested at 1.0705, which will be followed by a decline to 1.0565. 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 1.0865, which will indicate further growth to 1.0955.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. The Tenkan-Sen line is expected to be tested at 140.05, which will be followed by growth to 142.95. An additional signal confirming the growth 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 136.35, which will indicate a further decline to 135.35.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is testing the upper border of the descending correction channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. The Kijun-Sen line is expected to be tested at 1.3585, which will be followed by growth to 1.3745. An additional signal confirming the growth 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 indicate a further decline to 1.3295. The growth could be confirmed by a breakout of the upper border of the descending channel, securing above 1.3615.
Author
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.
