Recommendations: SELL 0…
USD/CAD: bulls made a stop
BUY 1.2645 SL 1.2590 TP1 1.2745 TP2 1.2845
BUY 1.2585 SL 1.253 TP1 1.2685 TP2 1.2785
On the daily chart, the inability of bulls to conquer resistance at 1.2922 became a reason for bears’ counterattack. As long as the pair’s above support at 1.2462, there are reasons to buy on the pullbacks to the short-term uptrend.
On H1, USD/CAD is forming “Spike with reversal and acceleration”. Rebounds from support in form of the lower border of the uptrend and the upper border of a triangle should be used for opening long positions.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; the falling lines Tenkan-sen and Kijun-sen; the market made a new lows since Nov 2016.
Bearish Ichimoku Cloud with horizontal Senkou Span A and B; a cancelled dead cross of Tenkan-sen and Kijun-sen with the horizontal lines; the market had returned to negative area.
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.