Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen.
USD/CAD: loonie showed wings
TP1 1.2985 TP2 1.313 TP3 1.325
On the daily chart, the inability of bears to hold USD/CAD below the lower border of the uptrend channel points at sellers’ weakness. To restore the uptrend and reach 88.6% target of the “Shark” pattern, bulls need to conquer resistance at 1.2922.
On H1, return to resistance area at 78.6% and 88.6% of the wave 4-5 of the “Widening wedge” means that bulls are in control.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of USD/CAD, bulls almost returned the pair to the 1.3275-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns).
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...