Ichimoku Cloud Analysis 10.08.2022 (AUDUSD, EURJPY, USDCAD)

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is correcting inside the bullish channel. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6950 and then resume moving upwards to reach 0.7180. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.6885. In this case, the pair may continue falling towards 0.6790. To confirm a further uptrend, the price must break the bearish channel’s upside border and fix above 0.7030.

EURJPY, “Euro vs Japanese Yen”

EURJPY is rebounding from Tenkan-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 137.05 and then resume moving upwards to reach 141.45. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 134.70. In this case, the pair may continue falling towards 133.75. To confirm a further uptrend, the price must break the bearish channel’s upside border and fix above 139.65.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is testing Tenkan-Sen and Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2850 and then resume moving upwards to reach 1.3120. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2790. In this case, the pair may continue falling towards 1.2695. To confirm a further uptrend, the price must break the bearish channel’s upside border and fix above 1.3015.