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Ichimoku Cloud Analysis 03.11.2021 EURUSD, GBPUSD, USDCAD

EURUSD, Euro vs US DollarEURUSD is trading at 1.1581; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the clouds downside border at 1.1610 and then resume moving downwards to reach 1.1475. Another signal in favour of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the clouds upside border and fixes above 1.1665. In this case, the pair may continue growing towards 1.1755. To confirm further decline, the asset must break the rising channels downside border and fix below 1.1545.GBPUSD, Great Britain Pound vs US DollarGBPUSD is trading at 1.3628; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test TenkanSen and KijunSen at 1.3705 and then resume moving downwards to reach 1.3485. Another signal in favour of a further downtrend will be a rebound from the descending channels upside border. However, the bearish scenario may no longer be valid if the price breaks the clouds upside border and fixes above 1.3785. In this case, the pair may continue growing towards 1.3875.USDCAD, US Dollar vs Canadian DollarUSDCAD is trading at 1.2418; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the clouds upside border at 1.2370 and then resume…

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