GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD has found a foothold above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2705 is expected, followed by a rise to 1.2825. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.2645, which will mean a further decline to 1.2555. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 1.2805.
XAUUSD, “Gold vs US Dollar”
Gold is correcting after a rebound from the support level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the upper boundary of the Cloud at 2035 is expected, followed by a decline to 1985. The decline could be additionally supported by a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 2045, which will mean further growth to 2075. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price finding a foothold below 2015.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rebounding from the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.3435 is expected, followed by a rise to 1.3635. 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 1.3365, which will mean a further decline to 1.3275. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price finding a foothold above 1.3505.
