Ichimoku cloud analysis: GBP/USD, USD/CAD, AUD/USD
|GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is correcting after a rebound from the support level. The instrument is going below the Ichimoku Cloud, which suggests a bearish trend. A test of the Kijun-Sen line at 1.2525 is expected, followed by a decline to 1.2295. 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 1.2670, which will mean further growth to 1.2755.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is rising within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Kijun-Sen line at 1.3675 is expected, followed by a rise to 1.3885. 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 1.3535, which will mean a further decline to 1.3445.
AUD/USD, “Australian Dollar vs US Dollar”
AUD/USD has rebounded from the lower boundary of the bearish channel. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.6595 is expected, followed by a decline to 0.6405. 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 0.6575, which will mean further growth to 0.6665.
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