EUR/USD:
The EUR/USD pair is currently testing a support area, signaling a potential bearish trend as it moves below the Ichimoku Cloud. The instrument might witness a test of the Cloud’s lower boundary at 1.0860, with a subsequent decline to 1.0675. Confirmation for this downward movement could come from a rebound off the upper boundary of the bearish channel. However, a breakout above the Cloud’s upper boundary at 1.0925 could invalidate this scenario, indicating a possible rise to 1.1015.
NZD/USD:
NZD/USD has established a foothold below the indicator’s signal lines, indicating a sideways trend as it moves within the Ichimoku Cloud. A potential test of the Cloud’s upper boundary at 0.6125 is anticipated, followed by a decline to 0.6025. Confirmation for this downtrend might arise from a rebound off the upper boundary of the descending channel. Conversely, a breakout above the Cloud’s upper boundary at 0.6195 could shift the scenario to an upward movement, targeting 0.6285. A decline might be confirmed by breaking the lower boundary of the ascending channel with the price settling below 0.6055.
USD/JPY:
USD/JPY is undergoing a correction within a Triangle pattern, positioned above the Ichimoku Cloud, indicating an ongoing uptrend. The instrument could be heading for a test of the Cloud’s upper boundary at 147.40, followed by a rise to 150.65. A potential confirmation for this upward movement may come from a rebound off the lower boundary of the bullish channel. Conversely, a breakout below the Cloud’s lower boundary at 146.05 could shift the scenario to a decline, targeting 145.15. A bullish outlook might be supported by breaking above the Triangle pattern’s upper boundary, with the price securing a position above 148.65.
