GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is falling within the bearish channel. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen at 1.1865 and then resume moving downwards to reach 1.1585. Another signal in favour of a 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 1.2195. In this case, the pair may continue growing towards 1.2295.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is about to break the support area. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 0.6930 and then resume moving downwards to reach 0.6735. Another signal in favour of a 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 0.7055. In this case, the pair may continue growing towards 0.7145.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 1.2920 and then resume moving upwards to reach 1.3125. Another signal in favour of a 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 1.2785. In this case, the pair may continue falling towards 1.2685.
Source: Roboforex
