Article By RoboForex.com
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1975.00; 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 1965.00 and then resume moving upwards to reach 2025.00. Another signal in favor of further uptrend will be a rebound from the downside border of the Triangle pattern. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1945.00. In this case, the pair may continue falling towards 1895.00. To confirm further growth, the asset must break the pattern’s upside border and fix above 1995.00.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 105.86; 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 105.95 and then resume moving downwards to reach 104.25. Another signal is favor of 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 106.65. In this case, the pair may continue growing towards 107.25.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks 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.
BRENT
Brent is trading at 43.33; 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 43.65 and then resume moving downwards to reach 40.55. Another signal in favor of further downtrend is a formation of a Head & Shoulders reversal pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 44.85. In this case, the pair may continue growing towards 49.05. To confirm further decline, the asset must break the support area and fix below 42.45, thus completing the 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.
- COT Metals Charts: Speculator bets led by Platinum & Silver May 18, 2024
- COT Bonds Charts: Speculator bets led by the 10-Year & 2-Year Bonds May 18, 2024
- COT Stock Market Charts: Speculator bets led by DowJones-Mini & Russell-Mini May 18, 2024
- COT Soft Commodities Charts: Speculator bets led higher by Corn & Wheat May 18, 2024
- Stoxx Europe 600: What Signs of Investor Exuberance Keep Telling Us May 17, 2024
- Natural gas prices rose to a 4-month high. China released mixed data May 17, 2024
- S&P 500 index hits record high amidst lower inflation May 17, 2024
- 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