GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3765; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3795 and then resume moving downwards to reach 1.3565. Another signal in favor 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 1.3865. In this case, the pair may continue growing towards 1.3955.
CADCHF, “Canadian Dollar vs Swiss Franc”
CADCHF is trading at 0.7416; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7395 and then resume moving upwards to reach 0.7585. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7345. In this case, the pair may continue falling towards 0.7255. To confirm further growth, the asset must break the descending channel’s upside border and fix above 0.7475.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is trading at 0.7016; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 0.7035 and then resume moving downwards to reach 0.6855. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled 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. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.6965.
