AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has rebounded from the resistance 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 0.6830 and then resume moving downwards to reach 0.6585. 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 0.6915. In this case, the pair may continue growing towards 0.7010.
XAUUSD, “Gold vs US Dollar”
XAUUSD is testing Tenkan-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 1770.00 and then resume moving downwards to reach 1665.00. 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 1805.00. In this case, the pair may continue growing towards 1845.00.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2955 and then resume moving upwards to reach 1.3295. 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 1.2875. In this case, the pair may continue falling towards 1.2795.
Source: Roboforex
