The US dollar index is trading near the psychological level at $94.
USD/CAD: bears went hunting
TP1 1.2635 TP2 1.2375 TP3 1.2345
On the daily chart, USD/CAD keeps forming the “Shark” pattern. Its 88.6% target is near 1.2345. To continue the decline, bears have to settle below an important support at 1.2685 as well as the lower border of the uptrend channel.
On H1, USD/CAD reached 224% target of AB=CD. Beers want to continue the decline towards 88.6% target of the “Shark”.
On the daily chart, AUD/USD is forming 5-0 and AB=CD patterns. After reaching an interim target at 127.2% of the latter, there was a natural pullback. Bears keep hoping to reach 161.8% target.
On the daily chart of NZD/USD, a pin bar let bulls to counterattack. They are trying to form a double bottom and return the situation under control.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
We've got a pullback from the nearest "Window", so there's an "Engulfing" pattern. In this case, the pair is likely going to...