EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1821; 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 1.1820 and then resume moving upwards to reach 1.2020. Another signal in favor of a further uptrend will be a rebound from the support level of a “5-0” bullish pattern. However, the bullish scenario may be cancelled if the price breaks the cloud’s downside border and fixes below 1.1735. In this case, the pair may continue falling towards 1.1645. To confirm further growth, the asset must break the descending channel’s upside border and fix above 1.1880.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1788.00; 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 1800.00 and then resume moving downwards to reach 1750.00. Another signal in favor of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1830.00. In this case, the pair may continue growing towards 1875.00.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9197; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.9165 and then resume moving upwards to reach 0.9295. Another signal in favor of a further uptrend will be a rebound from the upside border of a Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.9115. In this case, the pair may continue falling towards 0.9020.