On the daily chart, bears tried to form “Three Indians”, 1-2-3 and “Bat” with 88.6% target but failed to bring USD/CAD to an important support at 1.2925.
USD/CAD: loonie chooses the way
Recommendation: BUY 1,3505 SL 1,346 TP1 1,359 TP2 1,364.
On the USD/CAD daily chart, there is an attack on the diagonal support in the form of the upper border of the previous downward trading channel. If the Bulls manage to resist the Bears' attack, the risks for implementation of the inverted pattern 5-0 will increase. In contrast, if bears manage to test the aforementioned support, they will be able to implement the Wolfe Wave pattern.
On the hourly chart, USD/CAD is moving within the upward trading channel. Bulls might try to restore the trend once the "Head and shoulders" pattern is realized. You may consider opening the long position on the breakout of the resistance at 1.3505.
On the daily chart, bears managed to move XAU/USD to 113% target of the “Double top”.
Bears managed to pull AUD/USD below the lower consolidation range of 0.732-0.7470 (a ledge) within the “Spike and ledge” pattern.
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.
GBP/JPY broke support level 141…
Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…