Recommendation: BUY 0…
USD/CAD: bulls are launching an attack
TP1 1.3305, TP2 1.3160.
On the daily chart, USD/CAD recoiled from the diagonal support in form of the lower border of the rising trend channel. Bulls counter-attacked, conquered resistance at 1.3305 and are trying to hold the pair above this level. At the same time, large shorts are located at 1.3465 and 1.3525. Unless there’s a break higher we shouldn’t expect a resumption of an uptrend.
On H1 advance towards 1.3460-1.3470 and 1.3495 (88.6% target of the “Bat” pattern) should be used for opening short positions.
On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.
Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…