GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3609; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3580 and then resume moving upwards to reach 1.3815. Another signal in favor 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 1.3480. In this case, the pair may continue falling towards 1.3390.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7259; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7235 and then resume moving upwards to reach 0.7385. Another signal in favor 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 0.7195. In this case, the pair may continue falling towards 0.7095. To confirm further growth, the asset must break the resistance area and fix above 0.7315, thus completing a Head & Shoulders reversal pattern.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 111.68; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 111.35 and then resume moving upwards to reach 113.05. Another signal in favor of a further uptrend will be a breakout of 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 110.25. In this case, the pair may continue falling towards 109.35.
