USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/USD: let’s sell the pair
TP1 1.133 TP2 1.118 TP3 1.075
On the daily chart of EUR/USD, chances that the pair will reach targets of the “Head and Shoulders” pattern and the “Shark” pattern (88.6% target) are declining. A break of the support at 1.143 will increase risks of the fall to targets of the AB=CD pattern. Its target of 200% is near 1.075.
On H1, if the pair breaks the support at 1.145-1.147 (78.6-88.6% of the CD wave), it will signal the last stage of the transformation of the “Shark” pattern to 5-0 pattern. Moreover, it will let the pair go to 200% target of the AB=CD 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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