EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0770 is expected, followed by a decline to 1.0665. An additional signal confirming the decline could 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 finding a foothold above 1.0835, which will mean further growth to 1.0925. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price finding a foothold under 1.0730.
BRENT
Brent is testing the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 81.65 is expected, followed by a rise to 85.05. An additional signal confirming the rise might be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 77.55, which will mean a further decline to 72.05.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has found a foothold under the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.6530 is expected, followed by a decline to 0.6415. An additional signal confirming the decline could 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 finding a foothold above 0.6560, which will mean further growth to 0.6750. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price finding a foothold under 0.6475.
