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 downtrend. A test of the lower boundary of the Cloud at 1.2225 is expected, followed by a decline to 1.1995. An additional signal confirming the decline will 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 1.2315, which will mean further growth to 1.2205. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the bullish channel with the price securing under 1.2135.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD has secured above the upper boundary of the descending channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.3345 is expected, followed by a rise to 1.3685. An additional signal confirming the rise will be a rebound from the upper 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 1.3445, which will mean a further decline to 1.3355.
USD/CHF, “US Dollar vs Swiss Franc”
USD/CHF is pushing off the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the bullish channel at 0.9095 is expected, followed by a rise to 0.9305. 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 0.9015, which will mean a further decline to 0.8920. Meanwhile, the growth could be confirmed by a breakout of the upper boundary of the bearish channel with the price securing above 0.9175.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD approaches 1.1000 as DXY drops below 103.00
EUR/USD rose to 1.0988, reaching the highest intraday level since August 11. The pair trades near 1.1000, supported by broad-based US Dollar weakness. The DXY dropped below 103.00 to the lowest in three months.
GBP/USD breaks above 1.2650 to the highest level in almost three months
GBP/USD rose further during the American session, breaking above 1.2650. to the strongest level since early September. A weaker US Dollar continues to support the upside in the pair. Lower Treasury yields weigh on the Greenback.
Gold surges to six-month high amid soft USD ahead of Fed speeches
Gold price climbs to a six-month high, more than 0.50% on Tuesday, early in the North American session, as the Greenback remains on the defensive, undermined by falling US Treasury bond yields.
Dogecoin price might recover losses if volume picks up
Dogecoin has noted a massive rise in wallet addresses with a non-zero balance. This increase is typical of rising demand among market participants for DOGE. On-chain metrics paint a bullish outlook for Dogecoin.
Eurozone bank lending continues to weaken as economy adjusts to higher rates
Loans to businesses are now 0.3% lower than in October last year, the first annual decline since July 2015. This confirms that monetary tightening is having a clear effect on the economy. A divide between countries is also opening up.