USDCAD, “US Dollar vs Canadian Dollar”
USDCAD is trading at 1.2075; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2095 and then resume moving downwards to reach 1.1925. Another signal in favor of a further downtrend will be a rebound from the upside border of the Triangle pattern. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.2135. In this case, the pair may continue growing towards 1.2225. To confirm further decline, the asset must break the support level and fix below 1.2030, thus breaking the pattern’s downside border.
XAUUSD, “Gold vs US Dollar”
XAUUSD is trading at 1907.00; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1855.00 and then resume moving upwards to reach 1955.00. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1835.00. In this case, the pair may continue falling towards 1795.00.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.4195; the instrument is moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.4165 and then resume moving upwards to reach 1.4335. Another signal in favor of a further uptrend will be a rebound from the rising channel’s downside border. However, the bullish scenario may no longer be valid if the price breaks the cloud’s downside border and fixes below 1.4075. In this case, the pair may continue falling towards 1.3985. To confirm further growth, the asset must break the resistance level and fix above 1.4235, thus breaking the upside border of a Triangle pattern.
