Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/JPY: bulls are restoring the trend
Recommendation:
BUY 131.95
SL 131.40
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.
Ivan Karamazov
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