EURUSD, “Euro vs US Dollar”
EURUSD is pushing off the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.0665 is expected, followed by a decline to 1.0505. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0725, which will mean further growth to 1.0815.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has secured above the upper boundary of the Double Bottom reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.3470 is expected, followed by a rise to 1.3605. 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 1.3415, which will mean a further decline to 1.3325.
XAUUSD, “Gold vs US Dollar”
Gold is correcting after aggressive growth. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1915 is expected, followed by a rise to 1960. An additional signal confirming the rise will be a rebound from the lower boundary of the ascending channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1905, which will mean a further decline to 1875.
