USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9196; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9175 and then resume moving upwards to reach 0.9335. Another signal in favor of a further uptrend will be a rebound from the upside border of a Wedge reversal pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.9130. In this case, the pair may continue falling towards 0.9040.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 109.95; 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 110.10 and then resume moving downwards to reach 108.60. Another signal in favor of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 110.90. In this case, the pair may continue growing towards 111.85. To confirm further decline, the asset must break the pattern’s downside border and fix below 109.40.
XAGUSD, “Silver vs US Dollar”
XAGUSD is trading at 25.39; 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 25.75 and then resume moving downwards to reach 24.15. Another signal in favor of a further downtrend will be a rebound from the neckline of a Head & Shoulders pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 26.65. In this case, the pair may continue growing towards 27.55.
