USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/USD: an inside bar stopped bears
SELL 1.1945 SL 1.2 TP1 1.1845 TP2 1.1765 TP3 1.166
BUY 1.201 SL 1.1955 TP1 1.2065 TP2 1.211 TP3 1.216
On the daily chart of EUR/USD, after the pair reached 88.6% and 161.8% targets of “Bat” and “AB=CD” patterns, odds of the pair’s rebound up increased. The inside bar was formed. It means that bears may pause their attacks.
On H1, bulls and bears are fighting for the important level of 88.6% from the XA wave of the “Bat” pattern. If bulls succeed, odds of the pair’s rebound to 1.206, 1.216 and 1.2235 will increase. Vice versa, if bears are more successful, the pair will decline.
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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