EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.0971; 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 1.1015 and then resume moving downwards to reach 1.0685. Another signal in favour 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 1.1090. In this case, the pair may continue growing towards 1.1185. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 1.0860.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3026; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3120 and then resume moving downwards to reach 1.2750. Another signal in favour 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 1.3305. In this case, the pair may continue growing towards 1.3405.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1930.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1955.00 and then resume moving downwards to reach 1855.00. Another signal in favour 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 2030.00. In this case, the pair may continue growing towards 2075.00.
