USD/CAD: bulls decided to counterattack

USD/CAD: bulls decided to counterattack

Recommendation:

SELL 1.242

SL 1.2475

TP1 1.232 TP2 1.2185

On the daily chart, USD/CAD pulled back after reaching the 200% target of AB=CD. If bulls manage to get to resistance at 1.2310, the road to the upper border of the uptrend channel will be open.

CAD.png 

On H1, USD/CAD is forming “Spike with reversal and acceleration”. Without a break of the trendline in the area of 1.2150, resumption of the downtrend is not possible. The inability of bulls to overcome resistance at 1.2340 and 1.2420 will point at their weakness.

 

CAD2.png

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USD/CAD: the fights around 1.28

A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD.

cad
Gold is moving in channels

Recommendation: SELL 1311 SL 1326 TP1 1281 TP2 1272 TP3 1250 SELL 1280 SL 1295 TP1 1250 TP2 1244 On the daily chart of USD/XAU, bulls have to break resistance at 1302…

USD/JPY: the Dollar reached 111.50

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are reached the main daily resistance on 111.50 and the market is overbought now.

jpy

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