EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1371; 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 1.1405 and then resume moving downwards to reach 1.1205. Another signal in favour of a further downtrend will be a rebound from the downside border of a Double Top reversal pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.1445. In this case, the pair may continue growing towards 1.1535. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1.1325.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is trading at 0.9282; 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 0.9230 and then resume moving upwards to reach 0.9405. Another signal in favour of a further uptrend will be a rebound from the bullish 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 0.9185. In this case, the pair may continue falling towards 0.9090.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3521; 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 1.3535 and then resume moving downwards to reach 1.3335. 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 1.3585. In this case, the pair may continue growing towards 1.3675. To confirm further decline, the asset must break the downside border of a Double Top reversal pattern and fix below 1.3480.
