BRENT
Brent is rising within the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen at 119.75 and then resume moving upwards to reach 132.25. 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 109.05. In this case, the pair may continue falling towards 104.55.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rebounding from Tenkan-Sen and Kijun-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 1.2760 and then resume moving downwards to reach 1.2465. 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 1.2865. In this case, the pair may continue growing towards 1.2955.
XAUUSD, “Gold vs US Dollar”
XAUUSD is correcting within the Triangle pattern. 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 1850.00 and then resume moving upwards to reach 1905.00. Another signal in favour of a further uptrend will be a rebound from the pattern’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1815.00. In this case, the pair may continue falling towards 1775.00. To confirm further uptrend, the price must break the pattern’s upside border and fix above 1875.75.
Source: Roboforex
