Volatility has greatly diminished in USD/JPY. The pair is consolidating in a narrow range on H4, and a breakout is coming.
USD/CAD: loonie is losing grounds
TP1 1.2635 TP2 1.2535 TP3 172445
On the daily chart of USD/CAD, the inability of bears to keep the pair beyond the uptrend channel and reach 88.6% target of the “Shark” points at their weakness. Bulls counterattacked and aim to trigger AB=CD pattern with target at 127.2.
On H1, USD/CAD reached 113% target of the “Shark”. As a result, the risks of decline to 38.2%, 50% and 61.8% of the wave CD increased. To return in the game, bears need to pull the pair out of the uptrend channel.
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...