Ichimoku Cloud Analysis 07.12.2022 (EURUSD, AUDUSD, USDCAD)

EURUSD, “Euro vs US Dollar”

The currency pair is correcting inside a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.0385 is expected, followed by growth to 1.0755. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.0295, which will mean further falling to 1.0195.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has secured under the lower border of an ascending channel. The instrument is going under the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 0.6705 is expected, followed by falling to 0.6475. An additional signal confirming the decline will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 0.6810, which will mean further growth to 0.6905.

USDCAD, “US Dollar vs Canadian Dollar”

The currency pair has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.3605 is expected, followed by growth to 1.3870. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.3450, which will mean further falling to 1.3365.