AUD/NZD experienced an impressive rally since the end of March.
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 market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…