GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is rebounding from the bullish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.2525 and then resume moving downwards to reach 1.2265 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 1.2605. In this case, the pair may continue growing towards 1.2705.
USDCHF, “US Dollar vs Swiss Franc”
USDCHF is testing Tenkan-Sen and Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border 0.9740 and then resume moving upwards to reach 0.9880. 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 0.9670. In this case, the pair may continue falling towards 0.9580. To confirm a further uptrend, the price must break the rising channel’s upside border and fix above 0.9815.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is forming a “Head & Shoulders” reversal pattern. The instrument is currently moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 0.7205 and then resume moving downwards to reach 0.6985. 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 0.7245. In this case, the pair may continue growing towards 0.7335. To confirm a further downtrend, the price must break the above-mentioned pattern’s “neckline”.
