GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD 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 re-test Kijun-Sen at 1.2010 and then resume moving upwards to reach 1.2270. 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 1.1855. In this case, the pair may continue falling towards 1.1665.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is correcting within the Flag pattern. 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 137.05 and then resume moving downwards to reach 134.20. Another signal in favour of a further downtrend will be a rebound from the pattern’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 138.25. In this case, the pair may continue growing towards 139.15. To confirm a further downtrend, the price must break the pattern’s downside border and fix below 135.80.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is about to break another support area. 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 0.9635 and then resume moving downwards to reach 0.9465. 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 0.9755. In this case, the pair may continue growing towards 0.9845.
Source: Roboforex
