Narrowing bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with the falling lines
USD/CAD: loonie painted an Inside bar
BUY 1.2390 SL 1.2335 TP 1.2490
SELL 1.2295 SL 1.235 TP1 1.2195 TP2 1.2095
On the daily chart, the exit of USD/CAD outside of the triangle increases the risks of the downtrend’s resumption. The pair triggered AB=CD pattern with target at 200%. Formation of the inside bars points at the uncertainty.
On H1, USD/CAD is consolidating in the 1.2295-1.2390 range. A break of its upper border may trigger the “Bat” pattern. On the other hand, decline below support at 1.2295 will make the pair vulnerable for a further slide.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen
On the daily chart of USD/JPY, after the pair reached 113% target of the “Shark” there was a natural pullback.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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