Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen.
USD/CAD: bulls need a break
TP1 1.3015 TP2 1.3110
On the daily chart of USD/CAD, bulls managed to rise to an important level of 1.2920 and settle above it. Now they count on an advance to 127.2% target of AB=CD. At the same time, if the pair reached 113% of the “Shark”, the risks of a pullback will increase.
On H1, there is a “Spike and reversal with acceleration” pattern. The pair reached 224% target of AB=CD. This increases the odds of correction. The trend is bullish, so it will be wise to use pullbacks for opening long positions.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of USD/CAD, bulls almost returned the pair to the 1.3275-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns).
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...