EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1554; 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 1.1565 and then resume moving downwards to reach 1.1470. Another signal in favour 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 1.1620. In this case, the pair may continue growing towards 1.1705.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1796.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside 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 descending channel’s upside 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.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9123; 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 0.9140 and then resume moving downwards to reach 0.9005. Another signal in favour 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 0.9195. In this case, the pair may continue growing towards 0.9285. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 0.9075.
