GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD is rebounding from the signal lines of the indicator. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 1.2485 is expected, followed by a rise to 1.2675. 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 finding a foothold under 1.2325, which will mean a further decline to 1.2235.
Brent
Brent is correcting by forming an inverted Head and Shoulders reversal pattern. The instrument is going above the Ichimoku Cloud, which suggests an uptrend. A test of the upper boundary of the Cloud at 80.35 is expected, followed by a rise to 89.50. An additional signal confirming the rise will be a rebound from the upper boundary of the bearish channel. The scenario can be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 77.25, which will mean a further decline to 73.55. Meanwhile, the growth could be confirmed by a breakout of the neck line of the Head and Shoulders reversal pattern with the price finding a foothold above 81.05.
USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY has secured under the Tenkan-Sen line. The instrument is going below the Ichimoku Cloud, which suggests a downtrend. A test of the lower boundary of the Cloud at 149.45 is expected, followed by a decline to 147.35. An additional signal confirming the decline will be a rebound from the upper boundary of the Double Top pattern. The scenario can be cancelled by a breakout of the upper boundary of the Cloud with the price finding a foothold above 150.25, which will mean further growth to 151.15. Meanwhile, the decline could be confirmed by a breakout of the lower boundary of the reversal Double Top pattern with the price finding a foothold under 148.55.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains near 1.0300 after US PMI data
EUR/USD trades in positive territory at around 1.0300 on Friday. The pair breathes a sigh of relief as the US Dollar rally stalls, even as markets stay cautious amid geopolitical risks and Trump's tariff plans. US ISM PMI improved to 49.3 in December, beating expectations.
GBP/USD holds around 1.2400 as the mood improves
GBP/USD preserves its recovery momentum and trades around 1.2400 in the American session on Friday. A broad pullback in the US Dollar allows the pair to find some respite after losing over 1% on Thursday. A better mood limits US Dollar gains.
Gold retreats below $2,650 in quiet end to the week
Gold shed some ground on Friday after rising more than 1% on Thursday. The benchmark 10-year US Treasury bond yield trimmed pre-opening losses and stands at around 4.57%, undermining demand for the bright metal. Market players await next week's first-tier data.
Stellar bulls aim for double-digit rally ahead
Stellar extends its gains, trading above $0.45 on Friday after rallying more than 32% this week. On-chain data indicates further rally as XLM’s Open Interest and Total Value Locked rise. Additionally, the technical outlook suggests a rally continuation projection of further 40% gains.
Week ahead – US NFP to test the markets, Eurozone CPI data also in focus
King Dollar flexes its muscles ahead of Friday’s NFP. Eurozone flash CPI numbers awaited as euro bleeds. Canada’s jobs data to impact bets of a January BoC cut. Australia’s CPI and Japan’s wages also on tap.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.