Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen.
USD/CAD: loonies breaks the trend
Recommendation: SELL 1,3185 SL 1,324 TP1 1,3 TP2 1,2875.
On the USD/CAD daily chart, the realization of the Wolfe Waves pattern continues. Its target is located near the 1.3 mark. The Bears' attempt to push quotes beyond the long-term upward trading channel has failed. The repeated attempt may lead to the breakout of the bullish trend and implementation of the target 113% of the Shark pattern (1.2875).
On the USD/CAD hourly chart, the Bulls built bastions near 1.3225 and 1.3185. A successful test of these levels will probably result in a further drop of quotes.
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...