USD/CAD is another pair that has the potential to make significant moves in the near term.
USD/CAD has rebounded
BUY 1.3470; TP 1.3505; SL 1.3455
USD/CAD has been trading sideways between 1.3510 and 1.3367 for the past month. Yesterday it made a sharp rebound from the bottom of this range and now may test its top. An advance above 1.3367 (March high) will open the way up to the 1.3500/10 area. The long-term trend remains bullish.
The US dollar is helped by the demand for it as a safe haven and the lack, while the Canadian dollar is pressured by the declining oil prices after another weekly increase in the US crude stockpiles.
Last week USD/CHF broke below the uptrend support line of 2018.
CHF/JPY met the resistance of the declining 50-day MA and turned down. Its potential target lies at the support line connecting the lows of May in the 108.25 area.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.