AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.6783; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6805 and then resume moving downwards to reach 0.6625. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6845. In this case, the pair may continue growing towards 0.6925. After breaking the ascending channel’s downside border and fixing below 0.6715, the price may continue moving downwards.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6324; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.6335 and then resume moving downwards to reach 0.6125. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6385. In this case, the pair may continue growing towards 0.6465.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.3258; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3265 and then resume moving downwards to reach 1.3145. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3305. In this case, the pair may continue growing towards 1.3405. After breaking the ascending channel’s downside border and fixing below 1.3195, the price may continue moving downwards.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.