USD/CAD broke key support level 1.2770

USD/CAD broke key support level 1.2770

  • USD/CAD broke key support level 1.2770
  • Next sell target - 1.2600

USD/CAD continues to fall after the recent breakout of the key support level 1.2770 (former pivotal resistance level from August). The breakout of the support level 1.2770 accelerated the active minor impulse wave 1 – which belongs to the intermediate impulse (3) – which started previously from the resistance zone lying between the 200-day moving average and the round resistance level 1.3000. USD/CAD is expected to fall to the next sell target at the next support level 1.2600.



EUR/USD: "V-Top" pattern

The pair is likely going to test the nearest support at 1.2313. If a pullback from this level happens little later on...



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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