GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are testing the upper boundary of a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2940 is expected, followed by a rise to 1.3035. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.2665, which will mean a further decline to 1.2575.
XAUUSD, “Gold vs US Dollar”
Gold quotes are rising within a Head and Shoulders reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1950 is expected, followed by a rise to 1985. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1905, which will mean a further decline to 1875.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has secured above the upper boundary of the bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 0.6295 is expected, followed by a rise to 0.6445. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 0.6125, which will mean a further decline to 0.6035.
Source: Roboforex
