EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from Tenkan-Sen and Kijun-Sen at 1.0822 and may soon break the low it rebounded from in March; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may re-test Tenkan-Sen and Kijun-Sen at 1.0870 and then resume moving downwards to reach 1.0665. 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 1.1030. In this case, the pair may continue growing towards 1.1115.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY continues rising within the bullish channel at 126.03; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 125.65 and then resume moving upwards to reach 127.85. 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 124.45. In this case, the pair may continue falling towards 123.35.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is rebounding from the resistance area at 0.9333; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.9305 and then resume moving upwards to reach 0.9460. 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 0.9260. In this case, the pair may continue falling towards 0.9170.