USD/CAD: bulls retreat, but don’t give up

USD/CAD: bulls retreat, but don’t give up


SELL 1.235 SL 1.2415 TP1 1.225 TP2 1.215 TP3 1.2050

BUY 1.251 SL 1.2455 TP1 1.2635 TP2 1.28 TP3 1.2855

On the daily chart, USD/CAD bears aim to resume the downtrend. To do that they need to attack support at 1.2350. Bulls can return to the game if they manage to push the US dollar above resistance at 1.2462. 


On H1, if USD/CAD gets out of the descending channel and then triggers the “Bat” pattern, the odds of its going to 88.6% target will increase.




EUR/GBP: euro is walking in corridors

On the daily chart, EUR/GBP is making a long-term consolidation in the 0.87-0.9015 range within a “Spike and ledge” pattern on the basis of 1-2-3. Within it, the pair formed a medium-term consolidation range of 0.87-0.89.

EUR/USD is hunting bats

On the daily chart, EUR/USD keeps consolidating in the 1.1515-1.1815 range. Bulls keep hoping to form a “Dragon” and a “Crab”.


EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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