USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/USD got lost in corridors
SELL 1.2215 SL 1.227 TP1 1.2115 TP2 1.2095 TP3 1.1995
BUY 1.2515 SL 1.246 TP1 1.2615 TP2 1.2715 TP3 1.2815
On the daily chart, EUR/USD keeps consolidating in the 1.2215-1.2515 range within spike and ledge pattern. A break of resistance at 1.2515 will lead to the uptrend’s resumption. On the other hand, decline below support at 1.2215 will increase the risks of a correction.
On H1, EUR/USD keeps forming a “Widening wedge” pattern. The decline to the point 5 will open the way down to 78.6% of the Gartley pattern.
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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