EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1253; 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 1.1265 and then resume moving downwards to reach 1.1145. Another signal in favour of a further downtrend will be a rebound from the downside 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 1.1325. In this case, the pair may continue growing towards 1.1415. To confirm further decline, the asset must break the support level and fix below 1.1205.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7105; 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 0.7125 and then resume moving downwards to reach 0.6965. 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 0.7190. In this case, the pair may continue growing towards 0.7280.
BRENT
Brent is trading at 71.00; 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 73.05 and then resume moving downwards to reach 63.45. 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 75.65. In this case, the pair may continue growing towards 77.65.
