Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.
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.
Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market is oversold and aussie may go to Tenkan-sen in correctional movement.
Recommendations: BUY 1302 SL 1287 TP1 1…
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.