RoboForex
XAU/USD, “Gold vs US Dollar”
XAU/USD is no longer moving inside the cloud. 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 1840.00 and then resume moving upwards to reach 1905.00. 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 1820.00. In this case, the pair may continue falling towards 1780.00. To confirm a further uptrend, the price must break the descending channel’s upside border and fix above 1855.00.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY is growing within the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen at 129.20 and then resume moving upwards to reach 132.05. 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 126.55. In this case, the pair may continue falling towards 125.65.
Brent
Brent is rebounding from the bullish channel’s upside border. 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 upside border at 113.70 and then resume moving upwards to reach 125.65. 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 108.65. In this case, the pair may continue falling towards 103.05. To confirm a further uptrend, the price must break the descending channel’s upside border and fix above 118.05.
Source: FXStreet – RoboForex Team
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