EURUSD, “Euro vs US Dollar”
EURUSD is testing the support area. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0555 and then resume moving downwards to reach 1.0275. 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 1.0745. In this case, the pair may continue growing towards 1.0835.
BRENT
Brent is rebounding from Tenkan-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 107.80 and then resume moving upwards to reach 121.35. 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 102.45. In this case, the pair may continue falling towards 90.00. To confirm a further uptrend, the price must break the rising channel’s upside border and fix above 120.05.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has fixed below the bullish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7120 and then resume moving downwards to reach 0.6915. 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 0.7245. In this case, the pair may continue growing towards 0.7335.
