Article By RoboForex.com
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.6459; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the resistance area at 0.6490 and then resume moving downwards to reach 0.6305. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 0.6555. In this case, the pair may continue growing towards 0.6645.
XAGUSD, “Silver vs US Dollar”
XAGUSD is trading at 16.61; 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 16.95 and then resume moving downwards to reach 15.75. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 17.45. In this case, the pair may continue growing towards 18.25.
USDCAD, “US Dollar vs Canadian Dollar”
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USDCAD is trading at 1.3786; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3760 and then resume moving upwards to reach 1.3965. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3615. In this case, the pair may continue falling towards 1.3535.
Article By RoboForex.com
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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.
