XAUUSD, “Gold vs US Dollar”

XAUUSD is trading at 1690.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1698.00 and then resume moving downwards to reach 1645.00. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1720.00. In this case, the pair may continue growing towards 1750.00.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.3423; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3465 and then resume moving downwards to reach 1.3255. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3565. In this case, the pair may continue growing towards 1.3655.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is trading at 0.9630; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 0.9655 and then resume moving downwards to reach 0.9535. Another signal in favor of further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.9685. In this case, the pair may continue growing towards 0.9775.