GBP/USD: pound is overbought
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrow channel Tenkan-Kijun.
USD/CAD: loonie is hunting a shark
Recommendation:
SELL 1.2805
SL 1.286
TP1 1.269 TP2 1.2585 TP3 1.243
On the daily chart of USD/CAD, the pair pulled back after reaching 127.2% target of AB=CD. Bulls failed to keep the pair above the important area of 1.2914-1.2922. This points at their weakness. Triggering of the “Shark” pattern will increase the risks of correction towards 1.2685, 1.2580, 1.2430 and 1.2345.
On H1, a break of support at 1.2805 will trigger the “Shark” and AB=CD. Their targets of 113% and 224% are at 1.2585 and 1.269.
Ivan Karamazov
Similar
EUR/USD: euro is on July’s highs
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun.
EUR/JPY: bulls are restoring the trend
Recommendation: BUY 131…
Latest news
GBP/USD: confirmed "Thorn" pattern
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: time to correct?
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
EUR/USD: "Tweezers" on 34 Moving Average
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
Deposit with your local payment systems
