EUR/USD, “Euro vs US Dollar”
EURUSD is rising while completing a Wedge pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.0710 is expected, followed by a decline to 1.0525. An additional signal confirming the decline will be a rebound from the upper boundary of the Wedge pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.0765, which will mean further growth to 1.0955. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the reversal pattern with the quotes securing under the 1.0645 level.
XAU/USD, “Gold vs US Dollar”
Gold is rebounding from the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 2365 is expected, followed by a rise to 2480. An additional signal confirming the rise will be a rebound from the lower boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 2325, which will mean a further decline to 2265. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the Triangle pattern with the quotes securing above the 2405 level.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZDUSD has secured above the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.5965 is expected, followed by a decline to 0.5795. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 0.5995, which will mean further growth to 0.6090. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel with the quotes securing under the 0.5895 level.
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