GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.
USD/CAD: the loonie plans the reversal
SELL 1.353 SL 1.3585 TP1 1.3425 TP2 1.33 TP3 1.3205
On the daily chart of USD/CAD, bulls managed to reach the 127.2% and 88.6% targets of the AB=CD and "Bat" patterns. As a result, the risks of the reversal increased. If the pair does not go higher than the convergence zone and does not manage to break the resistance at 1.36, it will likely fall down.
On H1, the "Spike and Ledge" pattern was implemented. If the uptrend line is broken, bears will pull the pair towards the 1.3425 and 1.33 levels.
AUD/JPY has reached the support line connecting August and October lows in the 73.30 area. What's next?
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.