USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/GBP: bulls have control
Recommendation: BUY 0.8835 SL 0.878 TP1 0.893 TP2 0.907 TP3 0.917
On the daily chart of EUR/GBP, bulls have finally managed to bring the pair out of the consolidation range between 0.87 and 0.8835. The pair reached 78.6% target of the “Gartley” pattern. The continuation of the rally will lead to the transformation of the “Gartley” into the “Crab” pattern with the target at 161.8%.
On H1, EUR/GBP left the consolidation range and triggered AB=CD with a target at 161.8%. Pullbacks and rebounds from important support levels may be used for buying.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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