Ichimoku cloud analysis: EUR/USD, NZD/USD, USD/CAD
|EUR/USD, “Euro vs US Dollar”
EUR/USD is rebounding from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.0555 is expected, followed by a rise to 1.0750. 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 lower boundary of the Cloud with the price securing under 1.0485, which will mean a further decline to 1.0395.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 0.5995 is expected, followed by a rise to 0.6085. 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 lower boundary of the Cloud with the price securing under 0.5965, which will mean a further decline to 0.5875.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is correcting after an aggressive decline. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.3625 is expected, followed by a decline to 1.3465. 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 securing above 1.3725, which will mean further growth to 1.3815.
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