GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is pushing off the lower boundary of the Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.2155 is expected, followed by a decline to 1.1915. An additional signal confirming the decline will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 1.2250, which will mean further growth to 1.2345. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Triangle pattern with the price securing under 1.2045.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is testing the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3765 is expected, followed by a rise to 1.3985. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1.3635, which will mean a further decline to 1.3545.
NZDUSD, “New Zealand Dollar vs US Dollar”
NZDUSD is correcting after a rebound from the lower boundary of the bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 0.5825 is expected, followed by a decline to 0.5675. An additional signal confirming the decline will be a rebound from the upper boundary of the descending channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price securing above 0.5945, which will mean further growth to 0.6035.
