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 wants freedom
TP1 1.3105 TP2 1.3155 TP3 1.3275
On the daily chart, USD/CAD approached the upper border of the 1.2665-1.2900 consolidation range. A break of resistance at 1.2900-1.2930 will increase the odds of advance towards 200% target of AB=CD. The pullback, on the other hand, will lead to further consolidation.
On H1, USD/CAD is forming a “Widening wedge”. A successful test of resistance at 1.2890-1.2905 will allow the formation of point 5. Judging by trading volumes, there are positions of large sellers near 1.2890.
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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