Bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen.
USD/CAD: the fight of bears and bulls
SELL 1,264 SL 1,2585 TP 1,274.
On the daily chart, USD/CAD reached 88.6% target of a “Shark” pattern. As a result, the possibility of corrective movement towards 23.6%, 50% and 61.8% of the wave CD increased. The following recoil from the important resistance levels should be used for entering short positions within the current bearish trend.
On H1, bears’ strengths are diminishing. This can be seen from the angle of the downtrend. The break of resistance at 1.2635-1.2640 will allow bulls to start an attack.
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of USD/CAD, bulls almost returned the pair to the 1.3275-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns).
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...