Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen
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.
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.
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