Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.
USD/CAD: bears are preparing for the attack
On the USD/CAD daily chart, the realization of the Wolfe Waves pattern continues. The next move would be the return of quotes within the borders of the downward trading channel. For this to happen, the Bears need to break the support at 1.3435.
On the USD/CAD hourly chart, the breakout of the diagonal support in the form of the lower border of the upward trading channel will be a signal for the Bears' attack. There is a chance for quotes reaching the convergence zone at 1.344 - 1.3455. Within these levels, there is a target 88.6% of the Shark pattern. If support at 1.344 is broken, there will be a slide towards lower levels.
Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market is oversold and aussie may go to Tenkan-sen in correctional movement.
Recommendations: BUY 1302 SL 1287 TP1 1…
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.