EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1239; 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 1.1305 and then resume moving downwards to reach 1.1055. Another signal in favor of further downtrend will be a rebound from the downside border of the Double Top reversal pattern. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.1345. In this case, the pair may continue growing towards 1.1434.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1721.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1700.00 and then resume moving upwards to reach 1775.00. Another signal in favor of further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1690.00. In this case, the pair may continue falling towards 1645.00. To confirm further growth, the asset must break the neckline of a Head & Shoulders reversal pattern and fix above 1745.00.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.3663; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3570 and then resume moving upwards to reach 1.3915. Another signal in favor of 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 1.3370. In this case, the pair may continue falling towards 1.3285.
