Daily Market Analysis

There’s a possible flat pattern in wave (ii). Previously, wave (i) has been formed, so the market is likely going to deliver wave (iii) in the short term.

We’ve got a “High Wave” and a “Doji”, so the pair is likely going to test the nearest resistance.

The 144 Moving Average has acted as a resistance, so there’re a “Tower” and an “Engulfing” patterns, which both have been confirmed.

The last “Wedge” has been broken, so the market is likely going to test the nearest resistance at 1.2595 – 1.2614.

Bulls went through the nearest support area, so we should keep an eye on the next resistance at 1.0698 – 1.0707.

NZD/CAD reached sell target 0…

AUD/CAD reached sell target 0…

There’s a possible extension in wave (iii), so the market is likely going to decline in the short term.

The last bullish “Harami” doesn’t have a strong confirmation. In this case, the market is likely going to reach the closest resistance.

The nearest “Window” has acted as a resistance, so we’ve got a bearish “Shooting Star”.

The last “Triangle” has been transformed into a downward “Wedge”. So, bulls are likely going to test a resistance at 1.2522 – 1.2557.

There’s a bullish “Pennant”, so the market is likely going to test the nearest resistance at 1.0594 – 1.0655 in the short term.