USD/CAD: loonie came closer to the Rubicon

USD/CAD: loonie came closer to the Rubicon

On the USD/CAD daily chart, the bulls managed to hold their positions at 1.3306 (38,2% from the last long-term downward wave) and launch a counterattack.A breakout of the support at 1.3405 will lead to the continuation of the rally towards the upper boundary of the downward trading channel (1.35-1.3525).  

On the USD/CAD hourly chart, the further dynamics of the movement of the pair will depend on the test of the diagonal support located near 1.34. If it is tested successfully it will lead to the implementation of the 113% target in the Shark inverted pattern, A failure to do so will lead to the development of consolidation in the range of 1.325-1.34. 

Recommendation: BUY 1,34 SL 1,3345 TP 1,3525.





GBP/USD: pound looks weak

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen and falling Tenkan-sen; the prices are on the Kijun’s support, but the Bears may breaking down it.

EUR/USD: euro falling in negative area

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are entered into the negative area, but there is a strong support on 1.2290.



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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