USD/CAD: bears are running away

USD/CAD: bears are running away


BUY 1.2510

SL 1.2455

TP1 1.261 TP2 1.272 TP3 1.285

On the daily chart, USD/CAD bulls managed to rise above the upper border of the uptrend channel. As a result, the odds of an inverted “Shark” pattern with target at 88.6% have substantially increased.


On H1, the probability of USD/CAD pulling back to support levels at 1.2485-1.2510 and 1.2390-1.2410 increased after the pair reached 113% target of the junior “Shark” pattern. If USD/CAD renews February high, this will create grounds for going to 88.6% target of the senior “Shark” pattern.




USD/JPY: the Bulls don’t want to give up

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.



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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