EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.0842; 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 1.0870 and then resume moving downwards to reach 1.0695. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.0935. In this case, the pair may continue growing towards 1.1015.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.2415; 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 1.2455 and then resume moving downwards to reach 1.2175. Another signal in favor of further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2520. In this case, the pair may continue growing towards 1.2615. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 1.2275.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 106.91; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 107.10 and then resume moving downwards to reach 105.25. Another signal to confirm 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 107.55. In this case, the pair may continue growing towards 108.45.
