EURUSD, “Euro vs US Dollar”
EURUSD is pushing off the upper boundary of the descending channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper boundary of the Cloud at 1.0885 is expected, followed by a decline to 1.0705. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0935, which will mean a further rise to 1.1025. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price securing under 1.0785.
BRENT
Brent 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 upper boundary of the Cloud at 84.55 is expected, followed by a rise to 88.05. An additional signal confirming the rise will be a rebound from the upper 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 82.65, which will mean a further decline to 80.05. Meanwhile, the growth could be confirmed by a breakout of the resistance level with the price securing above 87.00, which will mean that a Double Bottom reversal pattern has formed. The pattern target is 89.00.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is testing the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 0.6425 is expected, followed by a rise to 0.6615. An additional signal confirming the rise will be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 0.6390, which will mean a further decline to 0.6305.
