Article By RoboForex.com
EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1925; 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 1.1930 and then resume moving downwards to reach 1.1745. Another signal in favor of a 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 1.2045. In this case, the pair may continue growing towards 1.2135.
GBPJPY, “Great Britain Pound vs Japanese Yen”
GBPJPY is trading at 153.82; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 153.50 and then resume moving upwards to reach 156.25. Another signal in favor of a further uptrend will be the formation of a Head & Shoulders reversal pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 152.50. In this case, the pair may continue falling towards 151.55. To confirm further growth, the asset must break the resistance level and fix above 155.55, thus completing the above-mentioned pattern.
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AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7588; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7595 and then resume moving downwards to reach 0.7395. Another signal in favor 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 0.7665. In this case, the pair may continue growing towards 0.7755.
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.
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