Technical Analysis by RoboForex

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Forex Technical Analysis & Forecast 17.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
17.05.2018
EURUSD, “Euro vs US Dollar”

EURUSD is consolidating near the lows. Possibly, today the price may reach 1.1875, fall towards 1.1755, and then grow to return to 1.1875. If later the instrument breaks this range to the upside, the market may start another correction to reach 1.2100; if to the downside – resume falling inside the downtrend with the target at 1.1600.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is still consolidating around 1.3535. Today, the price may reach 1.3580 and then fall towards 1.3435. If later the instrument breaks this range to the upside, the market may start another correction to reach 1.3755; if to the downside – resume falling with the target at 1.3333.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating. Possibly, today the price may fall to reach 0.9940 and then grow towards 1.0000. If later the instrument breaks this range to the downside, the market may start another correction to reach 0.9820; if to the upside – resume growing with the target at 1.0110.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has broken 110.00 upwards and right now is consolidating above it. If later the instrument breaks this range to the upside, the market may reach 111.11; if to the downside – start another correction with the target at 108.30.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD continues consolidating below 0.7560. If later the instrument breaks this range to the upside, the market may start another growth to reach 0.7700; if to the downside – resume falling inside the downtrend with the target at 0.7310.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving downwards. Today, the price may fall towards 61.20, break it, and then continue forming the third descending wave with the target at 59.90.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating near the lows. If later the instrument breaks this range to the upside, the market may start another correction to reach 1302.00; if to the downside – resume falling with the target at 1280.00.

BRENT

Brent is moving upwards and trying to break its consolidation range to the upside. Possibly, today the price may reach 80.20. Later, the market may start another correction with the target at 77.20.

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Murrey Math Lines 17.05.2018 (USDCHF, GOLD)
17.05.2018
USDCHF, “US Dollar vs Swiss Franc”

As we can see in the H4 chart, USDCHF is expected to test the support at the 5/8 level.

As we can see in the H1 chart, the price is consolidating between the 3/8 and 5/8 levels. If later the pair breaks the 3/8 level, the instrument may resume falling to reach the support at the 0/8 one.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

XAUUSD, “Gold vs US Dollar”

In the H4 chart, XAUUSD may break the 3/8 level and then move upwards to reach the resistance at the 4/8 one.

As we can see in the H1 chart, the price has rebounded from the 5/8 level and may resume growing to reach the resistance at the 7/8 one.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.

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Japanese Candlesticks Analysis 17.05.2018 (GOLD, NZDUSD)
17.05.2018
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after reaching the support level and forming several Hammer, Inverted Hammer, and Engulfing reversal patterns, XAUUSD has been slightly corrected. Judging by the previous movements, it may be assumed that after finishing the correction the price may continue moving downwards despite the above-mentioned reversal patterns.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, after reaching another low, NZDUSD has been corrected and formed several Shooting Star and Harami reversal patterns at the top. Judging by the previous movements, at the moment it may be assumed that the correction is over and the instrument may resume its decline.

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Japanese Candlesticks Analysis 21.05.2018 (EURUSD, USDJPY)
21.05.2018
EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD has reached another low and formed several Hammer and Doji reversal patterns. Judging by the previous movements, at the moment it may be assumed that the price may be corrected once again and later continue its decline.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY has reached another high and formed several Shooting Star reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may be slightly corrected before resuming its growth.

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Ichimoku Cloud Analysis 21.05.2018 (AUDUSD, NZDUSD, USDCAD)
21.05.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7521; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 0.7510 and then continue moving upwards to reach 0.7625. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7465. In this case, the pair may continue falling towards 0.7370. After breaking the upside border of the Triangle pattern and fixing above 0.7560, the price may continue moving upwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6897; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.6905 and then continue moving downwards to reach 0.6785. Another signal to confirm further descending movement is the price’s rebounding from the upside border of the Triangle pattern. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6960. In this case, the pair may continue growing towards 0.7100. After breaking the downside border of the Triangle pattern and fixing below 0.6865, the price may continue moving downwards.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2868; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 1.2860 and then continue moving upwards to reach 1.3035. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2800. In this case, the pair may continue falling towards 1.27200. After breaking the upside border of theTriangle pattern and fixing above 1.2930, the price may continue moving upwards.

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Ichimoku Cloud Analysis 21.05.2018 (AUDUSD, NZDUSD, USDCAD)
21.05.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7521; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 0.7510 and then continue moving upwards to reach 0.7625. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7465. In this case, the pair may continue falling towards 0.7370. After breaking the upside border of the Triangle pattern and fixing above 0.7560, the price may continue moving upwards.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6897; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.6905 and then continue moving downwards to reach 0.6785. Another signal to confirm further descending movement is the price’s rebounding from the upside border of the Triangle pattern. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 0.6960. In this case, the pair may continue growing towards 0.7100. After breaking the downside border of the Triangle pattern and fixing below 0.6865, the price may continue moving downwards.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2868; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 1.2860 and then continue moving upwards to reach 1.3035. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2800. In this case, the pair may continue falling towards 1.27200. After breaking the upside border of theTriangle pattern and fixing above 1.2930, the price may continue moving upwards.

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Murrey Math Lines 21.05.2018 (EURUSD, GBPUSD)
21.05.2018
EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD may test the 0/8 level, rebound from it, and then resume growing towards the 1/8 one.

In the H1 chart, the pair is expected to test the support at the 0/8 level, rebound from it, and then grow to reach the resistance at the 3/8 one.

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD may break the 2/8 level and then continue falling towards the 1/8 one.

As we can see in the H1 chart, the pair may move upwards to reach resistance at the 3/8 level in case it breaks the 1/8 one.

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Fibonacci Retracements Analysis 22.05.2018 (EURUSD, USDJPY)
22.05.2018
EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, after reaching the post-correctional extension area, EURUSD was forced by the convergence to reverse and start a new ascending movement. The first target of this uptrend may be the retracements of 23.6%, 38.2% and 50.0% at 1.1880, 1.1981, and 1.2065 respectively.

In the H1 chart, the convergence made the pair reverse and resume growing; this correctional uptrend has already reached the retracement of 38.2%. The next targets may be the retracements of 50.0% and 61.8% at 1.1856 and 1.1888 respectively.

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, the divergence is being formed, which may indicate a possible pullback. The targets of this pullback may be the retracements of 23.6%, 38.2%, and 50.0% at 110.32, 109.68, and 109.13 respectively. However, if the price breaks the high at 111.39, the instrument may continue growing to reach the retracement of 261.8% at 112.29.

As we can see in the H1 chart, the divergence made USDJPY start a new correction to the downside, which has already reached the retracement of 23.6%. The next targets of this correction may be the retracements of 38.2%, 50.0%, and 61.8% at 110.54, 110.28, and 110.01 respectively.

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Japanese Candlesticks Analysis 22.05.2018 (GOLD, NZDUSD)
22.05.2018
XAUUSD, “Gold vs US Dollar”

As we can see in the H4 chart, after reaching the support level, forming several Hammer, Inverted Hammer, and Engulfing reversal patterns, and updating its low, XAUUSD has been corrected again. Judging by the previous movements, it may be assumed that after finishing the correction the price may continue moving downwards despite the above-mentioned reversal patterns.

NZDUSD, “New Zealand vs. US Dollar”

As we can see in the H4 chart, after reaching a new low, NZDUSD has formed several Hammer and Engulfing reversal patterns and completed another pullback. Judging by the previous movements, at the moment it may be assumed that instrument may start a new uptrend.

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Ichimoku Cloud Analysis 22.05.2018 (AUDUSD, NZDUSD, USDCAD)
22.05.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7584; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7550 and then continue moving upwards to reach 0.7675. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7465. In this case, the pair may continue falling towards 0.7370.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6956; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.6940 and then continue moving upwards to reach 0.7045. Another signal to confirm further ascending movement is the price’s rebounding from the support level. However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.6880. In this case, the pair may continue falling towards 0.6805.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2764; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 1.2830 and then continue moving downwards to reach 1.2650. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.2880. In this case, the pair may continue growing towards 1.2960. After breaking the downside border of the Triangle pattern and fixing below 1.2720, the price may continue moving downwards.

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Forex Technical Analysis & Forecast 22.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
22.05.2018
EURUSD, “Euro vs US Dollar”

EURUSD is still moving downwards with the target at 1.1695; right now, it is being corrected towards 1.1845. Possibly, today the price may grow to reach 1.1822 and may fall towards 1.1782. After that, the instrument may grow to return to 1.1845 and then resume falling inside the downtrend to each the main target.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving downwards. Today, the price may reach 1.3370 and then start another correction towards 1.3470, at least. Later, the market may resume falling with the target at 1.3260.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF is still consolidating. If later the instrument breaks this range to the upside, the market may grow to reach 1.0110; if to the downside (an alternative scenario) – fall with the target at 0.9944 and then resume growing with the target at 1.0110.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY is trading at the top of the ascending structure. Possibly, today the price may fall to reach 110.47. Later, the market may start another growth with the target at 111.86 and then resume falling towards 110.25.

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is moving upwards and may be corrected to reach the target at 0.7700. Today, the price may grow towards 0.7633 and then start another decline to reach 0.7562. After that, the instrument may continue growing towards the above-mentioned target.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving downwards. Today, the price may reach 62.30, break it, and then continue forming the third descending wave with the short-term target at 58.98.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating near the lows. If later the instrument breaks this range to the upside, the market may start another correction to reach 1302.00; if to the downside – resume falling with the target at 1280.00.

BRENT

Brent has rebounded from 78.10. Possibly, the price may continue moving upwards with the target at 82.78. Later, the market may start another correction towards 77.70.

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Murrey Math Lines 22.05.2018 (AUDUSD, NZDUSD)
22.05.2018
AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, the pair is consolidating between the 3/8 and 5/8 levels. In this case, the price is expected to grow towards the resistance at the 5/8 level.

In the H1 chart, the price may break the 8/8 level and then continue falling to reach the support at the 6/8 one.

NZDUSD, “New Zealand Dollar vs US Dollar”

In the H4 chart, NZDUSD is expected to break the 2/8 level and then continue growing towards the resistance at the 3/8 one.

In the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. If the price breaks the 4/8 level, it may continue growing towards the 5/8 one.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.

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Fibonacci Retracements Analysis 23.05.2018 (GBPUSD, EURJPY)
23.05.2018
GBPUSD, “Great Britain Pound vs US Dollar”

As we can see in the H4 chart, GBPUSD continues its descending movement, which has already reached the retracement of 61.8%. The next downside target may be the retracement of 76.0% at 1.3153.

In the H1 chart, the pair is moving downwards, but at the same time the convergence is being formed, which may indicate a possible correction to the upside in the future. The targets of this pullback may be the retracements of 23.6%, 38.2%, and 50.0% at 1.3445, 1.3622, and 1.3765 respectively.

EURJPY, “Euro vs. Japanese Yen”

As we can see in the H4 chart, after being corrected to the upside, EURJPY has started a new impulse inside the mid-term downtrend towards the retracement of 38.2% at 128.84.

In the H1 chart, the price is trading to the downside. After breaking the low, at 129.22, the instrument may trade towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 128.40 and 127.90 respectively.

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Ichimoku Cloud Analysis 23.05.2018 (AUDUSD, NZDUSD, USDCAD)
23.05.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7540; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 0.7515 and then continue moving upwards to reach 0.7635. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7465. In this case, the pair may continue falling towards 0.7370.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6900; the instrument is moving below Ichimoku Cloud, which means that it may continue falling. The markets could indicate that the price may test the downside border of the cloud at 0.6910 and then continue moving downwards to reach 0.6810. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further growth may be cancelled if the price breaks the upside border of the Triangle pattern and fixes above 0.6980.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2858; the instrument is moving inside Ichimoku Cloud, which means that it is moving sideways. The markets could indicate that the price may test the upside border of the cloud at 1.2870 and then continue moving downwards to reach 1.2760. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.2890. In this case, the pair may continue growing towards 1.2960. After breaking the downside border of the Triangle pattern and fixing below 1.2720, the price may continue moving downwards.

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Japanese Candlesticks Analysis 23.05.2018 (USDCAD, AUDUSD)
23.05.2018
USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD continues moving sideways and forming Hammer, Shooting Star, and Hanging Man reversal patterns at support and resistance levels. At the moment, it may be assumed that the instrument may rebound once again and then resume falling towards the downside border of the channel.

AUDUSD, “Australian Dollar vs US Dollar”

As we can see in the H4 chart, AUDUSD is still moving upwards forming Hammer and Inverted Hammer reversal patterns. By now, it has completed another correction with Hammer pattern. Judging by the previous movements, it may be assumed that the instrument may later continue trading upwards.

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Murrey Math Lines 23.05.2018 (USDJPY, USDCAD)
23.05.2018
USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is expected to test the support at the 5/8 level, rebound from it, and then resume growing towards the 7/8 one.

In the H1 chart, the pair may break the 3/8 level and then continue trading upwards to reach the 5/8 one.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading to reach 111.79.

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, USDCAD is expected to test the resistance at the 8/8 level.

As we can see in the H1 chart, the pair has broken the 5/8 level and may continue growing towards the resistance at the 8/8one.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.

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Forex Technical Analysis & Forecast 23.05.2018 (EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDRUB, GOLD, BRENT)
23.05.2018
EURUSD, “Euro vs US Dollar”

EURUSD couldn’t grow any higher than 1.1825; however, by now it has completed the descending impulse towards 1.1770, broken its low, and right now is forming a downside continuation pattern. Possibly, today the price may continue falling to reach the short-term target at 1.1729. After that, the instrument may grow to return to 1.1760 and then resume falling inside the downtrend to reach 1.1695.

GBPUSD, “Great Britain Pound vs US Dollar”

GBPUSD is moving downwards. Today, the price may reach 1.3350 and then start another correction towards 1.3470, at least. Later, the market may resume falling with the target at 1.3260.

USDCHF, “US Dollar vs Swiss Franc”

USDCHF has completed the descending correctional structure. Today, the price may grow to reach 1.0000 and then fall towards 0.9955. After that, the instrument may resume growing with the target at 1.0088.

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has completed the descending structure at 110.40. Possibly, today the price may grow to reach 111.16, thus forming another consolidation range. If later the instrument breaks this range to the upside, the market may start another growth to reach 111.95; if to the downside – continue the correction with the target at 110.00

AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD has been corrected towards 0.7545. Today, the price may form the fifth structure of the third wave. The target is at 0.7645. After that, the instrument may resume falling to return to 0.7545.

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is moving downwards. Today, the price may reach 60.30, break it, and then continue forming the third descending wave with the short-term target at 58.98.

XAUUSD, “Gold vs US Dollar”

Gold is consolidating around 1292.00. If later the instrument breaks this range to the upside, the market may start another growth to reach 1302.00; if to the downside – resume falling inside the downtrend with the target at 1270.00.

BRENT

Brent is still consolidating above 78.00. Possibly, the price may test this level from above. If later the instrument breaks this range to the upside, the market may resume growing to reach 82.00; if to the downside – start another correction with the target at 76.00.

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Fibonacci Retracements Analysis 24.05.2018 (AUDUSD, USDCAD)
24.05.2018
AUDUSD, “Australian Dollar vs US Dollar”

In the H4 chart, AUDUSD is being corrected to the upside; the uptrend has reached the retracement of 50.0% at 0.7613. The next possible target is the retracement of 61.8% at 0.7660. However, if the price starts a new descending impulse and breaks the low at 0.7412, the instrument may trade towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 0.7340 and 0.7294 respectively.

As we can see in the H1 chart, the pair is being corrected downwards and has already reached the retracement of 38.2%. The next targets may be the retracements of 50.0% and 61.8% at 0.7510 and 0.7487 respectively.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD has reached the retracement of 50.0% and started trading sideways. The next targets may be the retracements of 50.0% and 61.8% at 1.2708 and 1.2642 respectively. However, if the price breaks the high at 1.2997, the instrument may trade towards the post-correctional extension area between the retracements of 138.2% and 161.8% at 1.3100 and 1.3165 respectively.

In the H1 chart, the price is moving sideways.

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Japanese Candlesticks Analysis 24.05.2018 (EURUSD, USDJPY)
24.05.2018
EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD has reached another low and formed several Hammer, Inverted Hammer, and Doji reversal patterns. Judging by the previous movements, at the moment it may be assumed that the price is starting another correction, which may later ne followed by a new decline.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is being corrected towards the support level and forming Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may form several reversal patterns during this correction and then resume its growth.

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Ichimoku Cloud Analysis 24.05.2018 (AUDUSD, NZDUSD, USDCAD)
24.05.2018
AUDUSD, “Australian Dollar vs US Dollar”

AUDUSD is trading at 0.7567; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7545 and then continue moving upwards to reach 0.7655. However, the scenario that Implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 0.7465. In this case, the pair may continue falling towards 0.7370.

NZDUSD, “New Zealand Dollar vs US Dollar”

NZDUSD is trading at 0.6920; the instrument is moving inside Ichimoku Cloud, which means that it is moving sideways. The markets could indicate that the price may test the upside border of the cloud at 0.6930 and then continue moving downwards to reach 0.6820. Another signal to confirm further descending movement is the price’s rebounding from the resistance level. However, the scenario that implies further growth may be cancelled if the price breaks the upside border of the Triangle pattern and fixes above 0.6980.

USDCAD, “US Dollar vs Canadian Dollar”

USDCAD is trading at 1.2850; the instrument is moving inside Ichimoku Cloud, which means that it is moving sideways. The markets could indicate that the price may test the upside border of the cloud at 1.2870 and then continue moving downwards to reach 1.2720. However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.2910. In this case, the pair may continue growing towards 1.2990. After breaking the downside border of the Triangle pattern and fixing below 1.2760, the price may continue moving downwards.

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