EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower border of the Cloud at 1.0895 is expected, followed by a decline to 1.0725. An additional signal confirming the decline will be a rebound from the upper border of the bearish channel. The scenario can be cancelled by a breakout of the upper border of the Cloud with the price securing above 1.0950, which will mean further growth to 1.1045.
BRENT
Brent is testing the upper border of the Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 75.65 is expected, followed by a rise to 79.55. 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 with the price securing under 72.65, which will mean a further decline to 68.45. Meanwhile, the growth could be confirmed by a breakout of the upper border of the Triangle pattern with the price securing above 78.55.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is correcting in a descending channel. The instrument is going inside the Ichimoku Cloud, which suggests sideways dynamics. A test of the upper border of the Cloud at 0.6700 is expected, followed by a drop to 0.6490. A 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 with the price securing above 0.6735, which will mean a rise to 0.6825. Meanwhile, the decline can be confirmed by a breakout of the lower border of the bullish channel with the price securing under 0.6605.
