GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
USD/CAD: loonie is starting to fight
Recommendation: SELL 1.326 SL 1.3315 TP1 1.316 TP2 1.305
On the daily chart of USD/CAD, the formation of the senior and junior AB=CD patterns provoked a pullback in line with the “Three moves” pattern. The pair formed an inside bar. The break of its lower border will allow bears to count on the continuation of the decline to support at 1.305.
On H1, USD/CAD formed 113% target of a “Shark”. Pullbacks towards 38.2% and 50% are usually used for selling. A break of resistance at 1.3355, on the other hand, will increase the risks of uptrend’s resumption.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.