EURUSD, “Euro vs US Dollar”
In the monthly chart, EURUSD is breaking the support area; it is fixing below the downside borer of a Triangle pattern and may force a pattern materialisation with the target at 0.8800. However, bears still have two important support levels, at 1.0635 and 1.0300 respectively. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.0750 and then resume moving downwards to reach 1.0545. Another signal in favour of a further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.0880. In this case, the pair may continue growing towards 1.0970.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD has fixed below the descending channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7235 and then resume moving downwards to reach 0.6960. Another signal in favour of a further downtrend will be a rebound from the descending channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7465. In this case, the pair may continue growing towards 0.7555.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is plummeting within a strong descending impulse. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen the cloud’s downside border at 1.2855 and then resume moving downwards to reach 1.27060 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 1.3105. In this case, the pair may continue growing towards 1.3200.
Source: Roboforex
