GBPUSD, “Great Britain Pound vs US Dollar”
The currency pair is correcting by a Wedge reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.2155 is expected, followed by growth to 1.2545. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 1.9175, which will mean further falling to 1.1875. The growth will be confirmed by a breakaway of the upper border of the Wedge and securing above 1.2215.
USDJPY, “US Dollar vs Japanese Yen”
The currency pair is pushing off the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper border of the Cloud at 137.55 is expected, followed by falling to 131.25. An additional signal confirming the growth will be a bounce off the upper border of the descending channel. The scenario can be cancelled by a breakaway of the upper border of the Cloud and securing above 139.35, which will mean further growth to 140.25. The falling will be confirmed by a breakaway of the lower border of the bullish channel and securing under 135.85.
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
NZDUSD, “New Zealand Dollar vs US Dollar”
The currency pair is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 0.6325 is expected, followed by growth to 0.6625. An additional signal confirming the growth will be a bounce off the lower border of the bullish channel. The scenario can be cancelled by a breakaway of the lower border of the Cloud and securing under 0.6205, which will mean further falling to 0.6110.
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 prices were down by 10% in 2 weeks, and natural gas lost 19%. The PBoC cut interest rates Oct 21, 2024
- Gold Hits New Record Amid Geopolitical Tensions and US Election Uncertainty Oct 21, 2024
- COT Metals Charts: Speculator bets led by Gold & Platinum Oct 19, 2024
- COT Bonds Charts: Speculator bets led by 10-Year & US Treasury Bonds Oct 19, 2024
- COT Soft Commodities Charts: Speculator bets led by Lean Hogs & Live Cattle Oct 19, 2024
- COT Stock Market Charts: Speculator bets led by S&P500 & Russell 2000 Minis Oct 19, 2024
- PBoC launches new stimulus for the economy. Silver hits two-month high Oct 18, 2024
- USDJPY Adjusts Amid Mixed Signals from Japan’s Economic Data Oct 18, 2024
- Week Ahead: Tesla kicks off Big Tech earnings Oct 18, 2024
- A strong Australian labor market report reinforced the RBA’s hawkish stance. Banks in Thailand and the Philippines cut interest rates Oct 17, 2024