EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1241; 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 1.1275 and then resume moving downwards to reach 1.1040. 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 1.1355. In this case, the pair may continue growing towards 1.1445. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1.1185.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1801.00; 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 1805.00 and then resume moving downwards to reach 1760.00. 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 1835.00. In this case, the pair may continue growing towards 1865.00.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 114.95; 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 114.75 and then resume moving upwards to reach 116.30. Another signal in favour of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 113.65. In this case, the pair may continue falling towards 112.75. To confirm further growth, the asset must break the upside border of the Wedge pattern and fix above 115.25.