NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7185; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7195 and then resume moving downwards to reach 0.7070. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7225. In this case, the pair may continue growing towards 0.7315.
EURJPY, “Euro vs Japanese Yen”
EURJPY is trading at 133.23; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 133.40 and then resume moving downwards to reach 132.30. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 133.65. In this case, the pair may continue growing towards 134.55. To confirm further decline, the asset must break the neckline of the Head & Shoulders reversal pattern and fix below 132.55.
EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.2170; 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 1.2185 and then resume moving downwards to reach 1.2065. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2220. In this case, the pair may continue growing towards 1.2305.
