Forex Analysis: GBP/USD, AUD/USD, USD/CAD, Brent, S&P 500

Intraday news and views – GBP/USD

(AceTrader Team)

Intraday GBP/USD – 1.2192

Cable’s erratic rise from yesterday’s low at 1.2283 (Asia) to 1.2249 in New York morning n subsequent strong retreat on selling in eur/gbp cross suggests choppy swings below Wednesday’s 1-week high at 1.0277 would continue, as long as 1.2175 holds, another rise likely.

Remain as cautious buyer for 1.2235 but above 1.22 49 needed for 1.2277.
Below 1.2165/70 risks 1.2137.

Ichimoku cloud analysis: GBP/USD, AUD/USD, USD/CAD

(RoboForex Team)

GBP/USD, “Great Britain Pound vs US Dollar”

GBPUSD is testing Tenkan-Sen and Kijun-Sen. The instrument is currently moving above Ichimoku Cloud, thus indicating an ascending tendency. The markets could indicate that the price may test the cloud’s upside border at 1.2130 and then resume moving upwards to reach 1.2415. 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 1.2040. In this case, the pair may continue falling towards 1.1950.

AUD/USD, “Australian Dollar vs US Dollar”

AUDUSD is growing inside the bullish channel. 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 0.7040 and then resume moving upwards to reach 0.7275. 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 0.6905. In this case, the pair may continue falling towards 0.6805. To confirm a further uptrend, the price must break the bearish channel’s upside border and fix above 0.7205.

USD/CAD, “US Dollar vs Canadian Dollar”

USDCAD is rebounding from Tenkan-Sen and Kijun-Sen. The instrument is currently moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test resistance area at 1.2790 and then resume moving downwards to reach 1.2535. 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 1.2940. In this case, the pair may continue growing towards 1.3035.

Murrey math lines: Brent, S&P 500

(RoboForex Team)

Brent

In the H4 chart, after breaking 0/8, Brent is no longer trading within the “oversold area”. In this case, the price is expected to continue moving upwards to reach the resistance at 1/8. However, this scenario may no longer be valid if the asset breaks the support at 0/8 to the downside. After that, the instrument may reverse and fall to return to -1/8.

As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth towards 1/8 from the H4 chart.

S&P 500

On the H4 chart, after breaking the 200-day Moving Average, the S&P Index is trading above it to indicate a possible ascending tendency. In this case, the price is expected to break 3/8 and continue growing towards the resistance at 4/8. However, this scenario may no longer be valid if the asset breaks the support at 2/8 to the downside. After that, the instrument may reverse and fall to reach 1/8.