USD/CAD: Bears prepare traps

USD/CAD: Bears prepare traps

On the USD/CAD daily chart, target 113% of the Shark pattern has been fulfilled. This increases the risks of the rollback towards 23.6%, 50% and 61.8% of the CD wave in the course of transformation of the Shark pattern into 5-0. The correction can be used for opening short positions.

CAD1.png

On the USD/CAD hourly chart, quotes are moving within the downward trading channel. The Bears remain their control over the pair. Breaks of resistances at 1.2935 and 1.3005 will lead to the development of correction.

CAD2.png

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GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

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