EURUSD, “Euro vs US Dollar”
EURUSD is testing Tenkan-Sen and Kijun-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 1.0445 and then resume moving downwards to reach 1.0115. 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 1.0615. In this case, the pair may continue growing towards 1.0705.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is correcting within the bearish channel. 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 0.6595. 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 0.7225. In this case, the pair may continue growing towards 0.7315.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is rebounding from the cloud’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 129.85 and then resume moving downwards to reach 125.75. 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 130.45. In this case, the pair may continue growing towards 131.35.
