EURUSD, “Euro vs US Dollar”
EURUSD is still rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.0135 and then resume moving upwards to reach 1.0385. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.9975. In this case, the pair may continue falling towards 0.9885. To confirm a further uptrend, the price must break the resistance level and fix above 1.0305; two previous attempts have been unsuccessful.
XAUUSD, “Gold vs US Dollar”
XAUUSD is no longer trading within the bearish channel. 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 downside border at 1710.00 and then resume moving upwards to reach 1785.00. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1695.00. In this case, the pair may continue falling towards 1625.00. To confirm a further uptrend, the price must break the cloud’s upside and fix above 1740.00.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is testing Tenkan-Sen; earlier, it has been moving above the line, meaning the strength of bulls. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 0.6205 and then resume moving upwards to reach 0.6365. Another signal in favour of a further uptrend will be a rebound from the downside border of a “5-0” pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.6095. In this case, the pair may continue falling towards 0.6005.
