GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.4122; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.4155 and then resume moving downwards to reach 1.3995. Another signal in favor of a further downtrend will be a rebound from the bearish 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 1.4190. In this case, the pair may continue growing towards 1.4305. To confirm further decline, the asset must break the bearish channel’s downside border and fix below 1.4025.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1867.00; 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 1870.00 and then resume moving downwards to reach 1835.00. Another signal in favor of a further downtrend will be a rebound from the bearish 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 1880.00. In this case, the pair may continue growing towards 1915.00.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY is trading at 110.02; 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 109.75 and then resume moving upwards to reach 110.85. Another signal in favor of a further uptrend will be a rebound from the support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 109.05. In this case, the pair may continue falling towards 108.10. To confirm further growth, the asset must break the upside border of the Triangle pattern and fix above 110.35.
