Ichimoku cloud analysis: EUR/USD, USD/JPY, USD/CAD
EUR/USD, “Euro vs US Dollar”
EUR/USD has secured below the signal lines of the indicator. The pair is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 1.0850 is expected, followed by a decline to 1.0730. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price gaining a foothold above 1.0905, indicating further growth to 1.1005.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is testing the resistance area. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 151.35 is expected, followed by a rise to 153.65. An additional signal confirming the rise will be a rebound from the upper boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price establishing itself below 148.65, which will signal a further decline to 147.75.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is correcting within a bullish channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 1.3535 is expected, followed by a rise to 1.3695. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the Cloud’s lower boundary, with the price securing below 1.3490, which will indicate a further decline to 1.3405.
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.
