GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is rebounding from the Kijun-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the lower boundary of the Cloud at 1.2205 is expected, followed by a rise to 1.2505. 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 1.2135, which will mean a further decline to 1.2045. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the descending channel with the price securing above 1.2315.
XAUUSD, “Gold vs US Dollar”
Gold has secured under the neck line of the Head and Shoulders reversal pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1980 is expected, followed by a decline to 1905. An additional signal confirming the decline will be a rebound from the neck line of the reversal pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 2000, which will mean further growth to 2040.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is testing the resistance level. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 150.35 is expected, followed by a rise to 151.75. 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 149.55, which will mean a further decline to 148.65.
