USD/TRY has moved sharply down this week falling to the support line since the end of November.
USD/CAD: shakeout-fakeout pattern has been realized
On the USD/CAD chart, a successful attack on the diagonal support in the form of the lower border of the upward trading channel activated the Gartley pattern with a target 78.6%. The convergence zone is located near 1.31. The nearest important resistance can be found at 1.3305.
On the USD/CAD hourly chart, the "Shakeout-fakeout" pattern has been realized. Quotes fell below the lower boundary of the "Splash and ledge" pattern on the basis of 1-2-3. This tells us about the weakness of the bears and allows us to bet on the realization of the Gartley pattern.
Recommendation: SELL 1,328 SL 1,3335 TP 1,31.
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...