XAUUSD, “Gold vs US Dollar”
Gold is correcting within a bullish channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the Tenkan-Sen line at 1960 is expected, followed by a rise to 2005. 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 1940, which will mean a further decline to 1905. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price securing above 1970.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is pushing off the resistance level. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.2865 is expected, followed by a decline to 1.2675. An additional signal confirming the decline will be 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 securing above 1.3005, which will mean further growth to 1.3105.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is squeezed inside a Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.3170 is expected, followed by a decline to 1.3035. 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 securing above 1.3235, which will mean further growth to 1.3330. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Triangle pattern with the price securing below 1.3115.
