EURUSD, “Euro vs US Dollar”
EURUSD has secured above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.0575 is expected, followed by a rise to 1.0755. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.0505, which will mean a further decline to 1.0410. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price securing above 1.0630.
BRENT
Brent is rebounding from the upper boundary of the bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 90.75 is expected, followed by a rise to 96.35. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 85.05, which will mean a further decline to 80.05.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is correcting after a rebound from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.3615 is expected, followed by a rise to 1.3835. An additional signal confirming the rise will 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 securing under 1.3575, which will mean a further decline to 1.3485. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price securing above 1.3685.
