Recommendations: BUY 1…
USD/CAD: loonies is caught by sharks
SELL 1.2490 SL 1.2545 TP1 1.239 TP2 1.229 TP3 1.2190
BUY 1.2665 SL 1.2610 TP1 1.2765 TP2 1.2895
On the daily chart, USD/CAD the inability of bulls to return the pair inside the previous consolidation range of 1.2670-1.2895 was the first signal of their weakness.
On H1, if USD/CAD breaks below support at 1.2560 and 1.2490, the risks of the pair getting to 88.6% of the junior “Shark” pattern. To continue rising and reach 88.6% target of the senior “Shark” pattern, the pair has to convincingly rise above resistance at 1.2665.
Recommendation: BUY 0…
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.