XAU/USD, “Gold vs US Dollar”
XAUUSD is trading at 1776.00; 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 1750.00 and then resume moving upwards to reach 1830.00. Another signal in favor of a 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 1705.00. In this case, the pair may continue falling towards 1635.00.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7149; 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 0.7085 and then resume moving upwards to reach 0.7325. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 0.6995. In this case, the pair may continue falling towards 0.6905.
AUD/CHF, “Australian Dollar vs Swiss Franc”
AUDCHF is trading at 0.7124; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7065 and then resume moving upwards to reach 0.7285. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7005. In this case, the pair may continue falling towards 0.6905. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.7185, thus completing an Inverted Head & Shoulder reversal pattern; the pattern materialization target is at 0.7325.
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