Ichimoku cloud analysis: GBP/USD, NZD/USD, USD/CAD
|GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is still rebounding from Tenkan-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Tenkan-Sen and Kijun-Sen at 1.2615 and then resume moving downwards to reach 1.2265 Another signal in favour 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 1.2810. In this case, the pair may continue growing towards 1.2905.
NZD/USD, “New Zealand Dollar vs US Dollar”
NZD/USD has fixed below the bearish channel’s downside border. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test Kijun-Sen at 0.6515 and then resume moving downwards to reach 0.6245. Another signal in favour 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 0.6735. In this case, the pair may continue growing towards 0.6825.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD is testing Tenkan-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test Kijun-Sen at 1.2750 and then resume moving upwards to reach 1.3005. Another signal in favour 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 1.2585. In this case, the pair may continue falling towards 1.2495.
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