Article By RoboForex.com
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3146; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3080 and then resume moving upwards to reach 1.3290. Another signal in favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2975. In this case, the pair may continue falling towards 1.2895.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.3153; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3125 and then resume moving upwards to reach 1.3245. Another signal in favor of further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.3095. In this case, the pair may continue falling towards 1.1995. To confirm further growth, the asset must break the resistance area and fix above 1.3195, thus completing a Head & Shoulders reversal pattern.
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Download Our Metatrader 4 Indicators – Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 104.62; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 104.75 and then resume moving downwards to reach 103.95. 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 105.25. In this case, the pair may continue growing towards 106.15.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
- Oil continues to fall in price. The Australian dollar reached the maximum for 5 weeks Jan 24, 2025
- Japanese Yen Strengthens as Interest Rate Reaches Highest Level Since 2008 Jan 24, 2025
- Oil down 4 consecutive sessions since Trump’s inauguration. Natural gas prices rise again due to cold weather Jan 23, 2025
- The threat of tariffs by the US against Mexico, Canada, and China is adding uncertainty to financial markets Jan 22, 2025
- Gold Reaches 11-Month High as Global Demand for Safe Assets Surges Jan 22, 2025
- Hong Kong index rises for the 6th consecutive session. Oil declines amid Trump’s statements to increase production Jan 21, 2025
- Japanese Yen Strengthens to a Monthly High as Markets Anticipate a Bank of Japan Rate Hike Jan 21, 2025
- COT Metals Charts: Speculator Changes led higher by Gold, Copper & Silver Jan 19, 2025
- COT Bonds Charts: Weekly Speculator Changes led by 10-Year & 5-Year Bonds Jan 19, 2025
- COT Soft Commodities Charts: Weekly Speculator Wagers led by Soybeans & Soybean Oil Jan 19, 2025