Article By RoboForex.com
BTCUSD, “Bitcoin vs US Dollar”
BTCUSD is trading at 11755.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. As one can see, the cryptocurrency is steadily growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 11505.00 and then resume moving upwards to reach 12425.00. 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 10925.00. In this case, the pair may continue falling towards 10305.00. To confirm further growth, the asset must break the rising channel’s upside border and fix above 11965.00.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1900.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. As one can see, bulls have failed to break the resistance level at 1915.00 as the precious metal has rebounded from it for the third consecutive time. The markets could indicate that the price may test the cloud’s upside border at 1905.00 and then resume moving downwards to reach 1835.00. Another signal in favor of further downtrend will be the 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 1920.00. In this case, the pair may continue growing towards 1955.00. To confirm further decline, the asset must break the pattern’s neckline and fix below 1885.00.
Free Reports:
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.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.6562; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6570 and then resume moving downwards to reach 0.6435. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 0.6655. In this case, the pair may continue growing towards 0.6745.
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.
- US Fed tilts towards a rate cut despite the postponement. HKMA left the rate unchanged at 5.75% May 2, 2024
- Brent crude oil hits seven-week low May 2, 2024
- Target Thursdays: USDJPY, Copper & EURCAD May 2, 2024
- WTI oil declines on rising inventories and negotiations between Israel and Hamas. Rising unemployment in New Zealand may force RBNZ to start cutting rates earlier May 1, 2024
- Bitcoin stumbles below $60k ahead of Fed May 1, 2024
- Expert Says Now Looks Like a Good Time To Buy This Renewable Energy Stock Apr 30, 2024
- Optimism over corporate earnings is fueling stock indices. The Hong Kong index reached a 5-month high Apr 30, 2024
- FXTM’s Copper: Hits fresh two-year high! Apr 30, 2024
- European indices grow on the ECB’s “dovish” position. Quarterly reports of mega-companies support the broad market Apr 29, 2024
- Japanese yen shows volatility amid speculation of intervention Apr 29, 2024