EUR/USD, “Euro vs US Dollar”
EUR/USD is pushing off the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.0785 is expected, followed by falling to 1.0565. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 1.0875, which will mean further growth to 1.0965. The scenario can be confirmed by a breakaway of the lower border of the bullish channel and securing under 1.0675.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY has secured above the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 130.95 is expected, followed by growth to 134.35. 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 lower border of the Cloud and securing under 130.25, which will mean further falling to 129.35.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD is testing the lower border of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 0.6345 is expected, followed by falling to 0.6185. An additional signal confirming the decline will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 0.6425, which will mean further growth to 0.6515. The scenario can be confirmed by a breakaway of the lower border of the bullish channel and securing under 0.6835.
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US payrolls data surprised on the upside in September, rising by 254k, smashing expectations of a 150k rise. The unemployment rate fell to 4.1% from 4.2%, average hourly earnings increased to a 4% YoY rate and there was a 72k upwards revision to the previous two months’ payrolls numbers.
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