EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1420; 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 1.1370 and then resume moving upwards to reach 1.1565. Another signal in favour of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.1255. In this case, the pair may continue falling towards 1.1165. To confirm further growth, the asset must break the upside border of the Flag pattern and fix above 1.1465.
BRENT
Brent is trading at 91.33; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 90.30 and then resume moving upwards to reach 97.75. 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 87.25. In this case, the pair may continue falling towards 85.05.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1826.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1815.00 and then resume moving upwards to reach 1855.00. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1780.00. In this case, the pair may continue falling towards 1755.00.
Source: Roboforex
