USD/CAD: bulls saw a red rag

USD/CAD: bulls saw a red rag

Recommendation: BUY 1,277 SL 1,2715 TP1 1,287 TP2 1,294. 

On the daily chart, bulls are trying to develop their advantage and conquer resistance at 1.2737-1.2765. If they succeed, the odds of correction towards 1.2925-1.2939 will increase. To resume the downtrend, bears need to lead the pair outside of the bullish trend channel and then overcome support at 1.2650.


On H1, USD/CAD formed the “Dragon” pattern. A successful test of resistance at 1.2770 will strengthen the risks of a pullback to 1.2870 and 1.2940.




XAU/USD: gold was captured by bulls

Recommendation: BUY $1327 SL $1312 TP $1357 TP2 $1395 On the daily chart, XAU/USD is under control of bulls, at least until the pair’s trading above $1306 an ounce…


Morning brief for May 30

 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…

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