EURUSD, “Euro vs US Dollar”
EURUSD is forming a bullish Wedge pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower border of the Cloud at 1.0840 is expected, followed by a rise to 1.1025. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 1.0795, which will mean a further decline to 1.0705. Meanwhile, the increase could be confirmed by a breakout of the upper border of the reversal Wedge pattern, securing above 1.0945.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is testing the lower border of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.6705 is expected, followed by a decline to 0.6465. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 0.6845, which will mean further growth to 0.6935. Meanwhile, the decline could be confirmed by a breakout of the lower border of the bullish channel, securing under 0.6635.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 142.95 is expected, followed by a rise to 145.65. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 140.35, which will mean a further decline to 130.45. Meanwhile, the increase could be confirmed by a breakout of the upper border of the ascending channel, securing above 144.35.
