USD/CHF may test lower levels this week as long as it keeps trading below the resistance at 1.01.
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.
The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…