XAUUSD, “Gold vs US Dollar”
Gold is correcting, forming a Triangle pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1965 is expected, followed by a rise to 2010. An additional signal confirming the rise will be a rebound from the lower boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1950, which will mean a further decline to 1915. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the Triangle pattern with the price securing above 1985.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF has secured above the lower boundary of the ascending corrective channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.8615 is expected, followed by a decline to 0.8445. 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 0.8715, which will mean further growth to 0.8805.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is pushing off the support level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 139.40 is expected, followed by a rise to 143.65. 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 139.05, which will mean a further decline to 138.05. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price securing above 141.50.
