EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.2011; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2030 and then resume moving downwards to reach 1.1940. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2115. In this case, the pair may continue growing towards 1.2205. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 1.1980.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 105.16; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 104.85 and then resume moving upwards to reach 106.35. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 103.85. In this case, the pair may continue falling towards 102.95.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7625; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7655 and then resume moving downwards to reach 0.7485. Another signal in favor 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 0.7715. In this case, the pair may continue growing towards 0.7805.
