USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD has found a foothold under the lower boundary of the Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.3435 is expected, followed by a decline to 1.3255. An additional signal confirming the decline could be a rebound from the lower boundary of the Triangle pattern. The scenario could be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.3495, which will mean a further rise to 1.3585.
XAU/USD, “Gold vs US Dollar”
Gold is rebounding from the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 2020 is expected, followed by a rise to 2065. An additional signal confirming the rise could 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 finding a foothold under 2015, which will mean a further decline to 1985. Meanwhile, the growth could be supported by a breakout of the upper boundary of the bearish channel with the price finding a foothold above the 2040 level.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is rebounding from the broken boundary of the bullish channel. The instrument is going inside the Ichimoku Cloud, which suggests a sideways trend. A test of the Tenkan-Sen line at 0.8635 is expected, followed by a decline to 0.8465. An additional signal confirming the decline could be a rebound from the upper boundary of the bearish channel. The scenario could be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 0.8695, which will mean a further rise to 0.8785.
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