NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6984; 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 0.7005 and then resume moving downwards to reach 0.6875. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.7055. In this case, the pair may continue growing towards 0.7150. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 0.6905.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1808.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1795.00 and then resume moving upwards to reach 1855.00. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1775.00. In this case, the pair may continue falling towards 1745.00.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 110.36; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 110.70 and then resume moving downwards to reach 109.05. 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 111.25. In this case, the pair may continue growing towards 112.05. To confirm further decline, the asset must break the rising channel’s downside border and fix below 110.05.
