USD/CAD: loonie reached a milestone

USD/CAD: loonie reached a milestone

Recommendation:

BUY 1.2645 SL 1.259 TP1 1.2745 TP2 1.2850

SELL 1.2510 SL 1.2565 TP1 1.2410 TP2 1.2300

On the daily chart, USD/CAD is at the crossroads. A break of resistance at 1.2645 will give bulls hope for reaching 88.6% and 161.8% of the “Shark” and AB=CD. On the other hand, decline below support at 1.2460 will increase the risk of downtrend’s resumption. 

CAD1.png 

On H1 of USD/CAD, a break above diagonal resistance near 1.2510 will allow bears to reach 88.6% target of the “Bat”.   

CAD2.png

cad

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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

jpy

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