USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/USD: a Shark will eat the dollar
BUY 1.1990 SL 1.1935 TP1 1.2090 TP2 1.2190 TP3 1.2290
On the daily chart, EUR/USD reached the targets of the senior and junior “Broadening wedge” patterns. At the same time, the pair triggered the “Shark” and AB=CD patterns with targets at 88.6% and 200%. They form the convergence area at 1.18-1.1825. The necessary condition for the continuation of the fall is the decline below 1.2080-1.2095 и 1.1965-1.1990.
On H1, if EUR/USD reaches 78.6% and 88.6% of the “Shark”, this will increase the risks of a pullback to 23.6%, 38.2% and 50% of the wave CD as the “Shark” is transforming into 5-0.
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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