EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from the bearish channel’s upside 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 upside border at 1.0535 and then resume moving downwards to reach 1.0245. 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. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1.0450.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is correcting within a “5-0” pattern. 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 upside border at 129.45 and then resume moving downwards to reach 126.70. 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 130.05. In this case, the pair may continue growing towards 130.95.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is testing the resistance level. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7045 and then resume moving downwards to reach 0.6755. 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 0.7115. In this case, the pair may continue growing towards 0.7205.
