On the daily chart of XAU/USD, the pair left the downward channel and reached targets of the “Spike and ledge” pattern.
EUR/USD: the Bears waiting for new forces
Technical levels: support – 1.1710, 1.1670; resistance – 1.1780.
- Sell — 1.1760; SL — 1.1780; TP1 — 1.1710; TP2 — 1.1670;
Reason: bearish Ichimoku Cloud, but horizontal lines Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with weak channel Tenkan-Kijun; the market is in consolidation on Tenkan-sen and Kijun-sen.
On the daily chart of USD/CAD, the pair is reaching targets of the “Wolfe waves” pattern.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...