EUR/USD, “Euro vs US Dollar”
EURUSD is trading at 1.2067; 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 1.2115 and then resume moving downwards to reach 1.1940. Another signal in favor of 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 1.2160. In this case, the pair may continue growing towards 1.2245.
BRENT
Brent is trading at 54.57; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 53.55 and then resume moving upwards to reach 59.15. 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 53.05. In this case, the pair may continue falling towards 52.05. To confirm further growth, the asset must break the descending channel’s upside border and fix above 55.85.
AUD/USD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7683; 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 0.7695 and then resume moving downwards to reach 0.7525. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7765. In this case, the pair may continue growing towards 0.7855. To confirm further decline, the asset must break the support area and fix below 0.7635, thus indicating the completion of a Double Top reversal pattern.
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