USD/CAD: loonie wants to get out

USD/CAD: loonie wants to get out


SELL 1.2660

SL 1.2715

TP1 1.2590 TP2 1.2490 TP3 1.2390

On the daily chart, USD/CAD keeps consolidating within a short-term trend. A break of its upper border near 1.2895 will create grounds for reaching 88.6% target of the “Shark” pattern. On the other hand, a decline below support at 1.2670 will increase the risks of the medium-term downtrend’s resumption.


On H1, USD/CAD can trigger a “Widening wedge”. To do this, bears need to settle below 1.2715 and then pull the pair below 1.2660 and 1.2625.




GBP/USD: pound still supported by Cloud

Expanding bullish Ichimoku Cloud, but falling Senkou Span B(!); a golden cross of Tenkan-sen and Kijun-sen; the market supported by Cloud, but the Bulls can’t continue an existing uptrend.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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