Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen; the market made new lows, but there is a strong support on 111.00.
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.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen, rising Tenkan-sen; the prices are entered into the Cloud.
Recommendation: BUY 111…
The 55 Moving Average has acted as a resistance, so there’re a “Shooting Star” and a “Doji”.
GBP/CHF broke pivotal resistance level 1…
Bitcoin, quoted in USD, is already trapped in an interesting area where buyers could help to boost the cryptocurrency towards record highs in the mid-term…