Last week NZD/USD made a significant thrust to the downside.
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.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…