BTC/USD, “Bitcoin vs US Dollar”
BTC/USD is trading at 6372.00; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency that has almost left the cloud. The markets could indicate that the price may test the cloud’s upside border at 6445.00 and then resume moving downwards to reach 4765.00. Another signal to confirm further descending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 6955.00. In this case, the pair may continue growing towards 7805.00. After breaking the support area and fixing below 5605.00, the price may resume moving downwards and finish a Head & Shoulders pattern.
XAU/USD, “Gold vs US Dollar”
XAU/USD is trading at 1588.00; 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 1585.00 and then resume moving upwards to reach 1710.00. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1525.00. In this case, the pair may continue falling towards 1495.00. After breaking the descending channel’s upside border and fixing above 1620.00, the price may resume moving upwards.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is trading at 107.32; the instrument is moving below Ichimoku Cloud, thus indicating a bearish tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 107.65 and then resume moving downwards to reach 106.65. 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 108.55. In this case, the pair may continue growing towards 109.75.
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