USD/ZAR recoiled down from the resistance line connecting October highs and slipped under the daily moving averages.
USD/CAD: the CAD plans to storm
TP1 1.2955 TP2 1.292 TP3 1.28
On the daily chart of USD/CAD, the “Three drives” pattern keeps forming. The break of the support at 1.3055 will pull the pair out of the upward short-term channel and will activate the “Bat” pattern. Its 88.6% target corresponds to 1.28.
On H1, bears are going to storm the bottom line of the upward channel. If they succeed, the AB=CD pattern with the 200% target will be implemented.
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…