EUR/USD, “Euro vs US Dollar”
EUR/USD is trading at 1.1151; 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 1.1195 and then resume moving downwards to reach 1.1035. Another signal in favour of a 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 1.1395. In this case, the pair may continue growing towards 1.1485.
XAU/USD, “Gold vs US Dollar”
XAU/USD is trading at 1797.00; 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 1815.00 and then resume moving downwards to reach 1755.00. Another signal in favour of a 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 1850.00. In this case, the pair may continue growing towards 1875.00.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is trading at 1.3408; 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 1.3425 and then resume moving downwards to reach 1.3195. Another signal in favour of a 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 1.3595. In this case, the pair may continue growing towards 1.3685.
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