Article By RoboForex.com
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.2478; the instrument is moving above Ichimoku Cloud, thus indicating a bullish tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2445 and then resume moving upwards to reach 1.2595. Another signal in favor of further ascending movement is the price’s rebounding from the rising channel’s downside border. However, the scenario that implies further growth may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2405. In this case, the pair may continue falling towards 1.2315.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 106.46; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 106.65 and then resume moving downwards to reach 105.65. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 107.15. In this case, the pair may continue growing towards 108.05.
USDCAD, “US Dollar vs Canadian Dollar”
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USDCAD is trading at 1.3865; the instrument is moving below Ichimoku Cloud, thus indicating a bearish tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3930 and then resume moving downwards to reach 1.3735. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border. However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.4035. In this case, the pair may continue growing towards 1.4125.
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.
