GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD is trading at 1.3656; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.3710 and then resume moving downwards to reach 1.3450. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 1.3905. In this case, the pair may continue growing towards 1.4005. To confirm further decline, the asset must break the bearish channel’s downside border and fix below 1.3565.
AUDUSD, “Australian Dollar vs US Dollar”
AUDUSD is trading at 0.7317; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 0.7335 and then resume moving downwards to reach 0.7205. Another signal in favor of a further downtrend will be a rebound from the descending channel’s downside border. However, the bearish scenario may no longer be valid if the price breaks the cloud’s upside border and fixes above 0.7515. In this case, the pair may continue growing towards 0.7605.
EURUSD, “Euro vs US Dollar”
EURUSD is trading at 1.1782; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the cloud’s downside border at 1.1810 and then resume moving downwards to reach 1.1675. Another signal in favor of a further downtrend will be a rebound from the descending channel’s upside border. However, the bearish scenario may be canceled if the price breaks the cloud’s upside border and fixes above 1.1855. In this case, the pair may continue growing towards 1.1965. To confirm further decline, the asset must break the support level and fix below 1.1765 – as we can see, after three tests of this area, bears still failed to break it.
