EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1740; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1745 and then resume moving downwards to reach 1.1625. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be cancelled if the price breaks the cloud’s upside border and fixes above 1.1765. In this case, the pair may continue growing towards 1.1855. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1.1705.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7241; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7265 and then resume moving downwards to reach 0.7065. 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 0.7305. In this case, the pair may continue growing towards 0.7405. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.7185.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3718; 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 1.3735 and then resume moving downwards to reach 1.3515. 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 1.3815. In this case, the pair may continue growing towards 1.3905.
