Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
USD/CAD: bears prepare an attack
On the daily USD/CAD chart bulls and bears are fighting for an important area of 1.3435-1.3505. Bulls’ victory will allow them to count on the resumption of the medium-term uptrend. On the other hand, if bears win, the odds of Wolfe Waves pattern will increase.
On H1 USD/CAD keeps consolidating in the 1.3430-1.3535 in line with reversed Spike and Ledge pattern based on 1-2-3. Bears have approached 1.3430 and, in case of its successful test, will be ready to resume the short-term downtrend.
Recommendation: SELL 1.3430 SL 1.3485 TP1 1.3330 TP2 1.3280 TP3 1.3165.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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