EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1600; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.1620 and then resume moving downwards to reach 1.1495. 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 cloud’s 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 channel’s downside border and fix below 1.1535.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1801.00; 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 1790.00 and then resume moving upwards to reach 1845.00. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1765.00. In this case, the pair may continue falling towards 1735.00. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 1810.00.
BRENT
Brent is trading at 83.54; 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 83.85 and then resume moving downwards to reach 77.55. Another signal in favour 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 86.35. In this case, the pair may continue growing towards 88.55.
