GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is correcting following a breakout of the upper boundary of the descending corrective channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s lower boundary at 1.2525 is expected, followed by a rise to 1.2695. 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 below 1.2485, indicating a further decline to 1.2395.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is rebounding from 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 1.3685 is expected, followed by a decline to 1.3540. 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 1.3725, which will signal a further rise to 1.3815. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the ascending channel, with the price establishing itself below 1.3610.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is declining after a rebound from the upper boundary of the descending channel. The pair is going above the Ichimoku Cloud, which suggests an uptrend. A test of the Cloud’s upper boundary at 0.6575 is expected, followed by a rise to 0.6730. An additional signal confirming the rise will be a rebound from the lower boundary of the ascending channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud, with the price securing below 0.6525, which will indicate a further decline to 0.6435. Meanwhile, the rise could be confirmed by a breakout of the upper boundary of the bearish channel, with the price finding a foothold above 0.6650.
