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.
