GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3351; 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 1.3315 and then resume moving upwards to reach 1.3505. Another signal in favour 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 1.3235. In this case, the pair may continue falling towards 1.3175.
BRENT
Brent is trading at 75.36; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s downside border at 73.85 and then resume moving upwards to reach 82.25. Another signal in favour of a further uptrend will be a rebound from the descending channel’s upside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 70.45. In this case, the pair may continue falling towards 68.25.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2800; 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 1.2715 and then resume moving upwards to reach 1.2960. Another signal in favour 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 1.2645. In this case, the pair may continue falling towards 1.2555. To confirm further growth, the asset must break the resistance level and fix above 1.2855. This movement will indicate a breakout of the descending channel’s upside border.
