EURUSD, “Euro vs US Dollar”
EURUSD has secured under the lower boundary of the bullish channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper boundary of the Cloud at 1.0850 is expected, followed by a decline to 1.0680. A signal confirming the decline will be a rebound from the lower boundary of the ascending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0905, which will mean a further rise to 1.1005.
BRENT
Brent is growing within a Double Bottom reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 86.05 is expected, followed by a rise to 89.15. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 82.65, which will mean a further decline to 80.05.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is testing the support level. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.3535 is expected, followed by a decline to 1.3365. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.3625, which will mean further growth to 1.3715.
