Bullish Ichimoku Cloud, but falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with extremely falling lines.
USD/CAD: bulls are ready for new highs
TP1 1.2715 TP2 1.292 TP3 1.324
On the daily chart, bulls are trying to restore the short-term uptrend. They managed to defend their fortress near 1.2460. Now buyers are counting on growth towards 88.6% target of the inverted “Shark” pattern.
On H1, USD/CAD formed a “Spike and ledge” pattern. The pair’s trading within the consolidation range of a ledge (1.2435-1.2560). A break of its upper border will strengthen the case for the uptrend to resume.
On the daily chart of AUD/USD, after the pair reached the 88.6% target of the "Shark" pattern, a logical pullback happened.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...