On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.
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.
USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.
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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