Ichimoku Cloud Analysis 15.02.2021 (EURUSD, USDCAD, NZDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is trading at 1.2139; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2105 and then resume moving upwards to reach 1.2265. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 1.2015. In this case, the pair may continue falling towards 1.1935.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2663; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2700 and then resume moving downwards to reach 1.2545. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2775. In this case, the pair may continue growing towards 1.2855.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.7242; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7205 and then resume moving upwards to reach 0.7295. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.7185. In this case, the pair may continue falling towards 0.7095. To confirm further growth, the asset must break the resistance area and fix above 0.7255, thus implying a Head & Shoulders reversal pattern materialization with the target at 0.7315.