NZD/JPY has performed well this month forming higher lows and highs. It was supported by the 50-day MA in July and took off from that level.
USD/CAD: loonie is flirting with a triangle
BUY 1.3050 SL 1.2995 TP1 1.3150 TP2 1.3250 TP3 1.3315
SELL 1.2750 SL 1.2805 TP1 1.2650 TP2 1.2590 TP3 1.2440
On the daily chart, USD/CAD bulls are trying to lead the pair out of a triangle and continue north to 127.2% and 200% targets of the senior and junior AB=CD patterns. The necessary condition for an uptrend resumption is a confident break of resistance at 1.3050.
On H1 of USD/CAD, there are conditions for the formation of a reversal pattern “Broadening wedge”. To make it happen, bears need to pull the pair below support at 1.2750.
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
GBP/JPY reversed from resistance zone Next sell target - 149…
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...