Ichimoku Cloud Analysis 12.03.2024 (EURUSD, USDCAD, AUDUSD)

EURUSD, “Euro vs US Dollar”

EURUSD is rebounding from the indicator’s signal lines. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.0905 is expected, followed by a rise to 1.1075. An additional signal confirming the rise might be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price finding a foothold below 1.0810, which will indicate a further decline to 1.0720.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is testing the lower boundary of the bullish channel. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.3495 is expected, followed by a decline to 1.3385. An additional signal confirming the decline could be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price securing above 1.3595, which will indicate further growth to 1.3685.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is undergoing a correction following a rebound from the upper boundary of the bullish channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.6565 is expected, followed by a rise to 0.6720. An additional signal confirming the rise might be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price finding a foothold below 0.6495, which will indicate a further decline to 0.6405.