USD/CAD: loonie is rolling into the abyss

USD/CAD: loonie is rolling into the abyss

On the USD/CAD daily, taking advantage of the weakness of the bears, the bulls broke the upper border of the downward trading channel and restored the uptrend. If they manage to keep quotes above 1.357, they might extend the rally towards 1.384.

On the USD/CAD hourly chart, the expanding wedge pattern was realized. This allowed us to open long positions and lock in their profits. The immediate support is located near 1.3525. Previously, it was a resistance. Target 161.8% in the AB = CD pattern is still relevant.

Recommendation: BUY 1,3525 SL 1,347 TP 1,372.


EUR/USD: euro wants to surf

On H1 of EUR/USD, bulls want to trigger “Wolfe waves” pattern with a target at the line 1-4. At the same time, if the pair doesn’t leave the downtrend channel, their plans will fail.  

USD/JPY: the Bears have won

Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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