Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/JPY: the euro doesn't have strength
Recommendation:
SELL 127.3
SL 127.85
TP1 126.3 TP2 126 TP3 125.55
On the daily chart of EUR/JPY, if bulls can’t pull the pair out of the downward channel and break the resistance at 128.85, it will signal their weakness. As a result, risks of the fall to 88.6% and 113% targets of the “Shark” pattern will increase.
On H1, the “Shark” pattern is implementing. A rebound from the resistances at 128.3 and 129.2, and a break of the support at 127.3 can be used for selling.
Ivan Karamazov
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