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

RoboForex Team RoboForex

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

GBP/USD has gained a foothold below the support level. The instrument is going below the Ichimoku Cloud, which implies a downtrend. A test of the Tenkan-Sen line at 1.2225 is expected, followed by a decline to 1.2005. An additional signal confirming the decline could 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 the 1.2425 level, which will indicate a further rise to 1.2515.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD has gained a foothold above the upper boundary of the bearish channel. The instrument is going inside the Ichimoku Cloud, which suggests a sideways movement. A test of the lower boundary of the Cloud at 1.3465 is expected, followed by a rise to 1.3635. An additional signal confirming growth could be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price securing below the 1.3425 level, which will indicate a further decline to 1.3335. Meanwhile, growth could be confirmed by a breakout of the upper boundary of a Double Bottom reversal pattern with the price securing above 1.3555.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF 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 0.9105 is expected, followed by a rise to 0.9195. An additional signal confirming growth could 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 Ichimoku Cloud with the price securing below 0.9020, which will signal a further decline to 0.8930.

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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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