EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from the lower boundary of the bullish channel. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the lower boundary of the Cloud at 1.0865 is expected, followed by a decline to 1.0695. 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 1.0950, which will mean a further rise to 1.1040. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price finding a foothold under 1.0805.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is testing the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.6590 is expected, followed by a decline to 0.6445. 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 0.6645, which will mean a further rise to 0.6735. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the price finding a foothold under 0.6535.
XAUUSD, “Gold vs US Dollar”
Gold has broken the boundaries of the corrective channel. The instrument is going below the Ichimoku Cloud, which suggests a dowtrend. A test of the lower boundary of the Cloud at 2035 is expected, followed by a decline to 1985. 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 2040, which will mean a further rise to 2065.
Source: Roboforex