GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.2276; 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 1.2310 and then resume moving downwards to reach 1.2120. Another signal in favor of further downtrend will be a rebound from the rising channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2415. In this case, the pair may continue growing towards 1.2505.
USDRUB, “US Dollar vs Russian Ruble”
USDRUB is trading at 70.19; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 69.50 and then resume moving upwards to reach 71.15. Another signal in favor of further uptrend will be a formation of a Double Bottom reversal pattern. However, the bullish scenario may be canceled if the price breaks the cloud’s downside border and fixes below 68.50. In this case, the pair may continue falling towards 67.05. To confirm further growth, the asset must break the resistance area and fix above 70.55, thus finishing the reversal pattern.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 107.76; 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 107.55 and then resume moving upwards to reach 108.45. Another signal is favor of further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 106.95. In this case, the pair may continue falling towards 106.05.
