On the daily chart, EUR/USD managed to rise above resistance at 1.1750 and lead the pair out of the medium-term consolidation range (1.15-1.1750).
USD/CAD: loonie fell from the ledge
TP1 1.2690 TP2 1.2570
On the daily chart of USD/CAD, after a short consolidation in the 1.2810-1.2950 range bulls manage to pull the pair above its lower border and trigger the “Shark” pattern with a target at 88.6%. The necessary condition for the further decline is the fall below support at 1.2685-1.2715.
On H1, a break of support at 1.2815 with its following retest triggered the “Spike and ledge”, “Shark” and AB=CD. The targets of the last two at 113% and 224% are at 1.2570 and 1.2690.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrow channel Tenkan-Kijun.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
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...