GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3419; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3455 and then resume moving downwards to reach 1.3135. 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 1.3555. In this case, the pair may continue growing towards 1.3645.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 114.19; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 113.80 and then resume moving upwards to reach 115.35. Another signal in favour 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 113.15. In this case, the pair may continue falling towards 112.25. To confirm further growth, the asset must break the resistance level and fix above 114.50 – as we can see, bulls have yet failed to break it to the upside.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7035; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7060 and then resume moving downwards to reach 0.6925. 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 0.7135. In this case, the pair may continue growing towards 0.7225.
