EURUSD, “Euro vs US Dollar”
EURUSD is rebounding from the lower boundary of the bullish channel. The instrument is going inside the Ichimoku Cloud, which suggests a sideways trend. A test of the upper boundary of the Cloud at 1.0915 is expected, followed by a decline to 1.0780. An additional signal confirming the decline could 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 finding a foothold above 1.0960, which will mean further growth to 1.1050. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price finding a foothold under 1.0860.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has escaped the boundaries of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.3495 is expected, followed by a rise to 1.3630. An additional signal confirming the rise might be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.3455, which will mean a further decline to 1.3565.
XAUUSD, “Gold vs US Dollar”
Gold is testing the support area. The instrument is going inside the Ichimoku Cloud, which suggests a sideways trend. A test of the upper boundary of the Cloud at 2160 is expected, followed by a decline to 2080. A signal confirming the decline could 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 finding a foothold above 2190, which will mean further growth to 2245. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price finding a foothold under 2095.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.