EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from the lower boundary of the bullish channel. The instrument is going inside the Ichimoku Cloud, which suggests a sideways trend. A test of the upper boundary of the Cloud at 1.0915 is expected, followed by a decline to 1.0780. An additional signal confirming the decline could 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 finding a foothold above 1.0960, which will mean further growth to 1.1050. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price finding a foothold under 1.0860.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has escaped the boundaries of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.3495 is expected, followed by a rise to 1.3630. An additional signal confirming the rise might 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 finding a foothold under 1.3455, which will mean a further decline to 1.3565.
XAUUSD, “Gold vs US Dollar”
Gold is testing the support area. The instrument is going inside the Ichimoku Cloud, which suggests a sideways trend. A test of the upper boundary of the Cloud at 2160 is expected, followed by a decline to 2080. A signal confirming the decline could 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 finding a foothold above 2190, which will mean further growth to 2245. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price finding a foothold under 2095.
Source: Roboforex
