EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1247; 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 1.1260 and then resume moving downwards to reach 1.1115. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.1305. In this case, the pair may continue growing towards 1.1395.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 106.87; 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 107.05 and then resume moving downwards to reach 106.25. Another signal is favor of 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.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1727.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1720.00 and then resume moving upwards to reach 1755.00. 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 1710.00. In this case, the pair may continue falling towards 1675.00. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 1735.00.
