EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
USD/CAD: a strong CAD
SELL 1.3275 SL 1.333 TP1 1.3175 TP2 1.315 TP3 1.3085
SELL 1.3315 SL 1.337 TP1 1.3215 TP2 1.315 TP3 1.3085
On the daily chart of USD/CAD, bulls almost returned the pair to the 1.3275-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns). When the pair reaches the convergence, it will increase odds of the pullback to the current upward movement.
On H1, the pair left the short-term consolidation of 1.305-1.3165, it let bulls hope that the pair will reach the 113% target of the "Shark" pattern. After the pair reaches it, risks of the pullback to 23.6%, 38.2% and 50% from the CD wave will increase.
USD/JPY is declining for the fifth day in a row. When the pair fell below 105.00, it entered a new, lower range.
The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
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