EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1100; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.1195 and then resume moving downwards to reach 1.0885. 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 1.1320. In this case, the pair may continue growing towards 1.1415.
BRENT
Brent is trading at 120.41; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 113.75 and then resume moving upwards to reach 135.05. 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 94.55. In this case, the pair may continue falling towards 90.05.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3406; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3435 and then resume moving downwards to reach 1.3165. 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 1.3495. In this case, the pair may continue growing towards 1.3585.
Source: Roboforex
