XAU/USD, “Gold vs US Dollar”
XAUUSD is trading at 1842.00; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1850.00 and then resume moving downwards to reach 1795.00. Another signal in favor of further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1870.00. In this case, the pair may continue growing towards 1910.00. To confirm further decline, the asset must break the rising channel’s downside border and fix below 1825.00.
EUR/GBP, “Euro vs Great Britain Pound”
EURGBP is trading at 0.8910; 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 0.8925 and then resume moving downwards to reach 0.8835. 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 0.9005. In this case, the pair may continue growing towards 0.9095.
USD/JPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 104.01; 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 103.90 and then resume moving upwards to reach 104.85. 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 above 103.05. In this case, the pair may continue falling towards 102.15.
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