GBP/USD, "Great Britain Pound vs US Dollar"
GBP/USD has found a foothold above the Tenkan-Sen line. The instrument is going above the Ichimoku Cloud suggesting a downtrend. A test of the Kijun-Sen line is expected at 1.2355, followed by a rise to 1.2580. An additional signal confirming the growth could be a rebound from the lower boundary of the bullish channel. The scenario could be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold under 1.2205, which might indicate a further decline to 1.2110.
USD/CAD, "US Dollar vs Canadian Dollar"
USD/CAD is correcting within a Wedge reversal pattern. The instrument is going below the Ichimoku Cloud, revealing a downtrend. A test of the lower boundary of the Cloud is expected at 1.3725, followed by a decline to 1.3575. An additional signal confirming the decrease might become a rebound from the upper Wedge boundary. The scenario could be cancelled by a breakout of the lower boundary of the Cloud with the price finding a foothold above 1.3720, from where the growth could continue to 1.3630. Meanwhile, the decline might be confirmed by a breakout of the lower Wedge boundary with the price finding a foothold under 1.3670.
XAU/USD, "Gold vs US Dollar"
Gold is rising within a bullish channel. The instrument is going above the Ichimoku Cloud, revealing an uptrend. A test of the upper boundary of the Cloud at 1965 is expected, followed by a rise to 1995. An additional signal confirming the growth might become a rebound from the lower bullish channel boundary. The scenario could be cancelled by a breakout of the lower boundary of the Cloud with the price securing under 1935, from where it might fall to 1895.
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 extends recovery beyond 1.0400 amid Wall Street's turnaround
EUR/USD extends its recovery beyond 1.0400, helped by the better performance of Wall Street and softer-than-anticipated United States PCE inflation. Profit-taking ahead of the winter holidays also takes its toll.
GBP/USD nears 1.2600 on renewed USD weakness
GBP/USD extends its rebound from multi-month lows and approaches 1.2600. The US Dollar stays on the back foot after softer-than-expected PCE inflation data, helping the pair edge higher. Nevertheless, GBP/USD remains on track to end the week in negative territory.
Gold rises above $2,620 as US yields edge lower
Gold extends its daily rebound and trades above $2,620 on Friday. The benchmark 10-year US Treasury bond yield declines toward 4.5% following the PCE inflation data for November, helping XAU/USD stretch higher in the American session.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Bank of England stays on hold, but a dovish front is building
Bank of England rates were maintained at 4.75% today, in line with expectations. However, the 6-3 vote split sent a moderately dovish signal to markets, prompting some dovish repricing and a weaker pound. We remain more dovish than market pricing for 2025.
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.