AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is rebounding from the rising channel’s downside border at 0.7488; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the rising channel’s upside border at 0.7515 and then resume moving downwards to reach 0.7265. Another signal in favour of a 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 0.7585. In this case, the pair may continue growing towards 0.7675. To confirm further decline, the asset must break the rising channel’s downside border and fix below 0.7435.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is still testing the support area at 1.3066; 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 1.3095 and then resume moving downwards to reach 1.2850. Another signal in favour of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3195. In this case, the pair may continue growing towards 1.3285. To confirm further decline, the asset must break the pattern’s downside border and fix below 1.3005.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is testing the resistance area at 1.2577; 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 1.2505 and then resume moving downwards to reach 1.2750. 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 1.2475. In this case, the pair may continue falling towards 1.2385.
