On the daily chart of USD/CAD, after the pair reached the 1.3285-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns), a logical pullback happened.
GBP/USD: pound will test Cloud again
Technical levels: support – 1.2750, 1.2660; resistance – 1.2805, 1.2840.
- Buy — 1.2780; SL — 1.2760; TP1 — 1.2840; TP2 — 1.2900.
- Sell — 1.2750; SL — 1.2770; TP1 — 1.2660; TP2 — 1.2610.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A; a correctional golden cross of Tenkan-sen and Kijun-sen; the prices returned to Cloud again and the Bulls can try to breakout its resistance.
Recommendation: BUY 1225 SL 1210 TP1 1248 TP2 1255 TP3 1263 On the daily chart of XAU/USD, bears couldn't keep the pair within the 1185-1215 consolidation…
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with rising 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...