GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is correcting after setting a new local high. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.2440 is expected, followed by a rise to 1.2645. 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 finding a foothold under 1.2325, which will mean a further decline to 1.2230.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rising within a Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 1.3745 is expected, followed by a decline to 1.3575. An additional signal confirming the decline will be a rebound from the upper boundary of the Triangle pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 1.3780, which will mean further growth to 1.3870. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Triangle pattern with the price finding a foothold under 1.3640.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD has secured under the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 0.5980 is expected, followed by a rise to 0.6155. 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 finding a foothold under 0.5935, which will mean a further decline to 0.5845.
