USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
GBP/USD: pound is counterattacking
Recommendation: BUY 1.3255 SL 1.32 TP1 1.3355 TP2 1.3455 TP3 1.3615
On the daily chart of GBP/USD, bulls are trying to resume the uptrend with the help of the corrective “Three Indians” pattern. To begin with, they need to settle above the upper border of the downtrend channel and push the pair above resistance at 1.3255.
On H1, GBP/USD is forming “Wolfe waves” and “Crab” patterns. A break of resistance at 1.3250-1.3255 will increase the odds of a “Shark” pattern with a target of 88.6%. It allows distinguishing the 1.3430-1.3440 convergence area.
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.
Oil prices have been climbing up for a long time. What have stopped them?
There has been some movement in the EUR/USD chart. What's happening?
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?