Forex Analysis: EUR/USD, AUD/USD, NZD/USD, Brent, S&P 500

(RoboForex Team)

Ichimoku cloud analysis: EUR/USD, AUD/USD, NZD/USD

EUR/USD, “Euro vs US Dollar”

EURUSD continues testing the resistance area. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.0190 and then resume moving upwards to reach 1.0415. Another signal in favour 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 1.0105. In this case, the pair may continue falling towards 0.9990. To confirm a further uptrend, the price must break the upside border of the Triangle pattern and fix above 1.0295; the pattern materialisation target is at 1.0455.

AUD/USD, “Australian Dollar vs US Dollar”

AUDUSD is correcting inside the bullish channel. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6955 and then resume moving upwards to reach 0.7145. Another signal in favour 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 0.6880. In this case, the pair may continue falling towards 0.6785.

NZD/USD, “New Zealand Dollar vs US Dollar”

NZDUSD is rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6265 and then resume moving upwards to reach 0.6450. Another signal in favour of a further uptrend will be a rebound from the rising channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.6215. In this case, the pair may continue falling towards 0.6125. To confirm a further uptrend, the price must break the upside border of the Triangle pattern and fix above 0.6365; the pattern materialisation target is at 0.6475.

Murrey math lines: Brent, S&P 500

Brent

As we can see in the H4 chart, Brent is trading within the “oversold area”. In this case, the price is expected to break -1/8 and continue moving upwards to reach the resistance at 1/8. However, this scenario may no longer be valid if the asset breaks the support at -2/8 to the downside. After that, the lines in the chart will be redrawn, thus helping us to define new downside targets.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

S&P 500

As we can see in the H4 chart, the S&P Index is still trading below the 200-day Moving Average to indicate a descending tendency. In this case, the price is expected to test 2/8, break it, and then continue falling towards the support at 1/8. However, this scenario may no longer be valid if the asset breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and grow to reach the next resistance at 5/8.