CAD/CHF, “Canadian Dollar vs Swiss Franc”
CADCHF is trading at 0.7416; 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 0.7415 and then resume moving upwards to reach 0.7495. Another signal in favor of a further uptrend will be a rebound from the descending channel’s upside. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 0.7355. In this case, the pair may continue falling towards 0.7265. To confirm further growth, the asset must break the neckline of the Head & Shoulders reversal pattern and fix above 0.7475.
GBP/USD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3710; 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 1.3775 and then resume moving downwards to reach 1.3595. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3855. In this case, the pair may continue growing towards 1.3945.
USD/CAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2599; 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 1.2525 and then resume moving upwards to reach 1.2785. Another signal in favor of a further uptrend will be a rebound from support level. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.2635. In this case, the pair may continue falling towards 1.2355.
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