Ichimoku cloud analysis: GBP/USD, USD/CAD, USD/CHF

RoboForex Team RoboForex

GBP/USD, “Great Britain Pound vs US Dollar”

GBP/USD is testing the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper border of the Cloud at 1.2400 is expected, followed by a rise to 1.2625. An additional signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 1.2345, which will mean a further decline to 1.2255. Meanwhile, the increase could be confirmed by a breakout of the upper border of the bearish channel, securing above 1.2535.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD is correcting by a bearish Flag pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 1.3455 is expected, followed by a decline to 1.3255. An additional signal confirming the decline will be a rebound from the upper border of the descending channel. The scenario can be cancelled by a breakout of the upper border of the Cloud, securing above 1.3545, which will mean further growth to 1.3635. Meanwhile, the decline could be confirmed by a breakout of the lower border of the Flag pattern, securing under 1.3390.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF is testing the support area. The instrument is going inside the Ichimoku Cloud, which suggests sideways dynamics. A test of the lower border of the indicator at 0.9035 is expected, followed by a rise to 0.9215. A signal confirming the rise will be a rebound from the lower border of the bullish channel. The scenario can be cancelled by a breakout of the lower border of the Cloud, securing under 0.8980, which will mean a further decline to 0.8875. Meanwhile, the increase can be confirmed by a breakout of the upper border of the bearish channel, securing above 0.9115.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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