GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is correcting following a breakout of the upper boundary of the descending corrective channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s lower boundary at 1.2525 is expected, followed by a rise to 1.2695. 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 below 1.2485, indicating a further decline to 1.2395.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rebounding from the Tenkan-Sen line. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Cloud’s lower boundary at 1.3685 is expected, followed by a decline to 1.3540. An additional signal confirming the decline will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the upper boundary of the Cloud, with the price securing above 1.3725, which will signal a further rise to 1.3815. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel, with the price establishing itself below 1.3610.
AUDUSD, "Australian Dollar vs US Dollar"
AUDUSD is declining after a rebound from the upper boundary of the descending channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.6575 is expected, followed by a rise to 0.6730. An additional signal confirming the rise will be a rebound from the lower boundary of the ascending channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 0.6525, which will indicate a further decline to 0.6435. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price finding a foothold above 0.6650.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.