USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/JPY: bulls are restoring the trend
TP1 132.95 TP2 133.8 TP3 136
On the daily chart of EUR/JPY, bulls could fix over the top line of the downtrend channel and are planning to move to the resistance at 131.95. Reaching this point will create a “Broadening wedge” pattern and allow to count on the continuation of a rally towards targets at 127.2% and 88.6% of the patterns AB=CD and “Double bottom”.
The pattern "Wolfe waves" is visible on the H1 chart. An update of the September maximum will go further in the direction of 200% target for AB=CD.
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.
Oil prices have been climbing up for a long time. What have stopped them?
There has been some movement in the EUR/USD chart. What's happening?
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?