The pair will be affected on the intraday basis by British Inflation Report hearings and US durable goods orders.
USD/CAD: bears faced with the wedge
On the USD/CAD daily chart, there was a false breakout of the lower border of the upward trading channel. The failure of the bears to keep quotes above the level of 1.3306 showed their weakness. If the bulls manage to test the diagonal resistance in the form of the upper border of the downward medium-term channel, there might be a continuation of the rally.
On the USD/CAD hourly chart, the expanding wedge pattern was formed. A rollback of prices towards 23.8%, 38.2% and 50% levels of the 4-5 wave can be used for the opening of long positions. But first, the point 5 should be formed.
BUY 1,3425 SL 1,337 TP 1,3575,
BUY 1,3385 SL 1,333 TP 1,357.
EUR/USD met resistance in the 1.1415 area. The pair’s advance in the recent days was quite rapid, so it might be hard for the euro to retain the bullish momentum.
After its extensive decline last week, the USD can make a small comeback.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.