GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3757; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3765 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. To confirm further decline, the asset must break the downside border of the Triangle pattern and fix below 1.3675.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1712.00; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the descending channel’s upside border at 1715.00 and then resume moving downwards to reach 1665.00. Another signal in favor of a further downtrend will be a rebound from the resistance level. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1745.00. In this case, the pair may continue growing towards 1795.00.
EURJPY, “Euro vs Japanese Yen”
EURJPY is trading at 129.80; 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 129.45 and then resume moving upwards to reach 130.55. Another signal in favor of a 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 129.15. In this case, the pair may continue falling towards 128.25.
