EURUSD, “Euro vs US Dollar”
EURUSD is correcting within a Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0725 is expected, followed by a decline to 1.0605. An additional signal confirming the decline will be a rebound from the upper boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0775, which will mean further growth to 1.0865. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Triangle pattern with the price securing under 1.0675.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is pushing off the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Kijun-Sen line at 0.6420 is expected, followed by a decline to 0.6235. 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 0.6495, which will mean further growth to 0.6485.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 0.8905 is expected, followed by a rise to 0.8985. 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 securing under 0.8855, which will mean a further decline to 0.8665. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price securing above 0.8935.
Source: Roboforex
