EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from 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 the cloud’s downside border at 1.0570 and then resume moving downwards to reach 1.0315. Another signal in favour of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.0720. In this case, the pair may continue growing towards 1.0815. To confirm further decline, the asset must break the pattern’s downside border and fix below 1.0445.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is correcting within the “5-0” pattern. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 130.00 and then resume moving upwards to reach 132.65. 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 128.05. In this case, the pair may continue falling towards 127.05.
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 the cloud’s downside border at 0.7115 and then resume moving downwards to reach 0.6905. 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 0.7305. In this case, the pair may continue growing towards 0.7405.
Source: Roboforex
