USD/CAD awaits US data
USD/CAD is another pair that has the potential to make significant moves in the near term.
EUR/USD is looking for a hint
Recommendation:
SELL 1.1705 SL 1.1760 TP1 1.1625 TP2 1.1530
BUY 1.1825 SL 1.1770 TP 1.1925
On the daily chart, bulls are trying to return the pair inside the uptrend channel at the phase of the “Spike and reversal with acceleration”. If they succeed. The odds of the uptrend’s resumption will increase. On the other hand, failure will allow bears to continue correction.
On H1, EUR/USD finished forming the “widening wedge”. Return of the quotes to 23.6% of the wave 4-5 will be a reason for short positions. On the other hand, growth to $1.1825 will allow opening longs.
Ivan Karamazov
Similar
USD/CHF after the breakdown
Last week USD/CHF broke below the uptrend support line of 2018.
Important levels for CHF/JPY
CHF/JPY met the resistance of the declining 50-day MA and turned down. Its potential target lies at the support line connecting the lows of May in the 108.25 area.
Latest news
EUR/USD: no any reversal pattern so far
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
USD/JPY: the Dollar is under bears pressure
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
USD/BRL is breaking down
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.
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