The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
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.
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...