BRENT
Brent has found a foothold above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 78.05 is expected, followed by a rise to 84.40. 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 finding a foothold under 73.55, which will mean a further decline to 68.75. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 82.05.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is correcting after a rebound from the resistance. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 0.6725 is expected, followed by a rise to 0.6875. 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 finding a foothold under 0.6605, which will mean a further decline to 0.6505. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the ascending channel with the price finding a foothold above 0.6815.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.3395 is expected, followed by a decline to 1.3175. 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 finding a foothold above 1.3515, which will mean further growth to 1.3605.
Source: Roboforex
