EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from the support level. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.9995 and then resume moving downwards to reach 0.9765. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.0095. In this case, the pair may continue growing towards 1.0185. To confirm a further downtrend, the price must break the bullish channel’s downside border and fix below 0.9905.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is still growing within the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 138.85 and then resume moving upwards to reach 143.75. Another signal in favour of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 136.15. In this case, the pair may continue falling towards 135.20.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is testing Tenkan-Sen and Kijun-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 0.6875 and then resume moving downwards to reach 0.6645. Another signal in favour of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.6965. In this case, the pair may continue growing towards 0.7055.
Source: Roboforex
