GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is rebounding from Tenkan-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.1805 and then resume moving downwards to reach 1.1395. 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 1.1995. In this case, the pair may continue growing towards 1.2090.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD has rebounded from the resistance area. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2955 and then resume moving upwards to reach 1.3185. Another signal in favour of a 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 1.2865. In this case, the pair may continue falling towards 1.2765.
BRENT
Brent is rising inside the bullish channel. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 101.00 and then resume moving upwards to reach 110.90. Another signal in favour of a 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 95.25. In this case, the asset may continue falling towards 88.05.
Source: Roboforex
