EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1299; 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 1.1315 and then resume moving downwards to reach 1.1215. 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 1.1365. In this case, the pair may continue growing towards 1.1455. To confirm further decline, the asset must break the support level and fix below 1.1270. This movement may lead to the start of the Flag pattern materialization.
XAGUSD, “Silver vs US Dollar”
XAGUSD is trading at 22.78; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may the cloud’s downside border at 22.65 and then resume moving upwards to reach 23.90. 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 22.05. In this case, the pair may continue falling towards 21.10. To confirm further growth, the asset must break the upside border of a Triangle pattern and fix above 23.60.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6792; 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 0.6800 and then resume moving downwards to reach 0.6655. Another signal in favour of a further downtrend will be a rebound from the completion of a Double Top pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6845. In this case, the pair may continue growing towards 0.6935. To confirm further decline, the asset must break the cloud’s downside border and fix below 0.6755.
