USD/CAD: bulls are counting on a triangle

USD/CAD: bulls are counting on a triangle


SELL 1.2505 SL 1.256 TP 1.231 TP2 1.218

SELL 1.255 SL 1.261 TP 1.245 TP2 1.231

On the daily chart, USD/CAD bears managed to renew the long-term low. This increases the risks of the continuation of the decline to 1.2310, 1.2180 and 1.2040. Never the less, we can’t exclude the possibility of a short-term pullback because of the inside bar.


On H1, bears returned the pair inside the descending channel. This is a sign of their strength. At the same time, a break of the upper border of the triangle will create the risks of a pullback towards 1.2501-1.2507 and 1.254-1.2559.




AUD/USD: aussie reached main target

Bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; but the market is overbought and under the strong resistance of 0.8000.

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.


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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