Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.2067; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2115 and then resume moving downwards to reach 1.1940. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.2160. In this case, the pair may continue growing towards 1.2245.
BRENT
Brent is trading at 54.57; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 53.55 and then resume moving upwards to reach 59.15. Another signal in favor of 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 53.05. In this case, the pair may continue falling towards 52.05. To confirm further growth, the asset must break the descending channel’s upside border and fix above 55.85.
Free Reports:
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7683; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7695 and then resume moving downwards to reach 0.7525. Another signal in favor of 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 0.7765. In this case, the pair may continue growing towards 0.7855. To confirm further decline, the asset must break the support area and fix below 0.7635, thus indicating the completion of a Double Top reversal pattern.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- Stock indices have hit all-time highs. The Australian labor market is starting to cool down May 16, 2024
- Target Thursdays: USDInd, Soybean & EU50 hit targets! May 16, 2024
- JPY has sharply strengthened May 16, 2024
- PBoC kept the interest rate unchanged. The US stock indices rise despite rising manufacturing inflation May 15, 2024
- Meme-stock mania: Will GameStop, AMC stocks surge even higher? May 15, 2024
- Euro climbs to five-week high ahead of US CPI data May 15, 2024
- Australia will release its annual budget today. Rising inflation expectations hurt US stock indices May 14, 2024
- JPY declines again May 14, 2024
- Trade of the Week: CHINAH to extend lead as Asia’s winner? May 13, 2024
- The German index has hit an all-time high. China sees rising consumer inflation May 13, 2024