Recommendation: BUY 131…
USD/CAD: bulls showed weakness
TP1 1.263 TP2 1.256 TP3 1.2
On the daily chart of USD/CAD, the inability of bulls to break above resistance at 1.2920 pointed at their weakness. If the pair leaves the uptrend channel, this will increase the odds of a “Butterfly” pattern with a target at 127.2%.
On H1, USD/CAD formed a “Shakeout-Fakeout” pattern. Currently, the pair is retesting resistance at 1.2815. If it fails and falls below support at 1.2730, bears will be able to count on the triggering of the “Shark”.
On the daily chart, bulls failed to push USD/JPY above an important resistance at 112.45 from the first attempt.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a newgolden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen.
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...