EURUSD, “Euro vs US Dollar”
EURUSD is correcting within a Triangle pattern. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 1.0845 is expected, followed by a rise to 1.0985. An additional signal confirming the rise will 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 securing below 1.0730, indicating a further decline to 1.0640. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the Triangle pattern, with the price finding a foothold above 1.0905.
USDJPY, "US Dollar vs Japanese Yen"
USDJPY has gained a foothold above the upper boundary of the descending channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 155.60 is expected, followed by a rise to 159.55. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 153.60, which will signal a further decline to 152.70.
XAGUSD, “Silver vs US Dollar”
Silver is declining following a rebound from the upper boundary of the bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 30.70 is expected, followed by a rise to 34.40. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 26.95, indicating a further decline to 25.95.
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.