USD/CAD: bears are gathering strength

USD/CAD: bears are gathering strength

On the daily chart, USD/CAD left the downtrend channel. As a result, the pair is correcting towards 23.6%, 38.2% and 50% within the transformation of the “Shark” pattern into 5-0. It will be sensible to use recoil from important resistance levels for opening short positions.


On H1, USD/CAD formed “Dragon” pattern. The pair’s currently consolidating within the “Spike and ledge” pattern in the 1.2660-1.2705 range. The break of its upper border will allow the pair to continue correction. A successful test of the lower border will strengthen the risks of the bearish trend resumption.




GBP/USD: bullish "Flag"

The pair is going to continue moving up in the direction of another resistance at 1.4144 - 1.4277...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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