USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/USD: step backwards and two steps forwards
TP1 1.1845 TP2 1.1865 TP3 1.1910
On the daily chart, EUR/USD is correcting to the short-term downtrend towards 38.2% of the last bearish wave and higher. The pair formed a pin bar and if it goes below its lower border bears will be able to return the pair to the diagonal support.
On H1 of EUR/USD, there’s a “Crab” pattern with a target at 161.8%. Formation of a “Three Indians” pattern increases the risks of decline to the convergence area 1.1740-1.1747, where bulls will become more active.
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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