Ichimoku cloud analysis: GBP/USD, USD/JPY, USD/CAD
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is rising within a bullish channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Tenkan-Sen line at 1.2635 is expected, followed by a rise to 1.2835. An additional signal confirming the rise will be a rebound from the lower boundary of the bullish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 1.2475, indicating a further decline to 1.2385. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bullish channel, with the price establishing itself above 1.2755.
USD/JPY, "US Dollar vs Japanese Yen"
USD/JPY has rebounded from the support level. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Cloud’s lower boundary at 154.65 is expected, followed by a decline to 151.15. 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 securing above 156.55, which will signal a further rise to 157.45.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD has gained a foothold above the Tenkan-Sen line. The pair is going below the Ichimoku Cloud, which suggests a downtrend. A test of the Cloud’s lower boundary at 1.3640 is expected, followed by a decline to 1.3525. 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 securing above 1.3695, which will indicate a further rise to 1.3785.
Author
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.
