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

RoboForex Team RoboForex

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

GBP/USD is rising within a bullish channel. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2445 is expected, followed by a rise to 1.2605. 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 finding a foothold under 1.2205, which will mean a further decline to 1.2110.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD is correcting by the Triangle pattern. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 1.3735 is expected, followed by a decline to 1.3535. 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 finding a foothold above 1.3785, which will mean further growth to 1.3870. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the Triangle pattern with the price finding a foothold under 1.3640.

USD/CHF, “US Dollar vs Swiss Franc”

USD/CHF is pushing off the signal lines of the indicator. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Tenkan-Sen line at 0.8895 is expected, followed by a decline to 0.8675. 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 finding a foothold above 0.8985, which will mean further growth to 0.9075.

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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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