EURUSD, “Euro vs US Dollar”
EURUSD is pushing off the upper boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower channel boundary at 1.0770 is expected, followed by a decline to 1.0605. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0845, which will mean further growth to 1.0955. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price securing under 1.0680.
XAUUSD, “Gold vs US Dollar”
Gold has secured under the neck line of the Head and Shoulders reversal pattern. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Tenkan-Sen line at 1915 is expected, followed by a decline to 1880. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1940, which will mean further growth to 1980.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has left the bearish correction channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 146.90 is expected, followed by a rise to 148.45. An additional signal confirming the rise will be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 146.25, which will mean a further decline to 145.35.
