A successful test of the lower border of the 1.2730-1.2920 consolidation range with the following renewal of May high opens the way up to 127.2% target of AB=CD.
USD/CAD: triangle will be the judge
BUY 1.251 SL 1.2455 TP1 1.264 TP2 1.28 TP3 1.2855
SELL 1.2375 SL 1.243 TP1 1.2275 TP2 1.22 TP3 1.2125
On the daily chart, USD/CAD keeps fighting for an important level of 1.2462. Near it the pair formed a triangle. The break of it will either allow bulls to count on the pair’s return to resistance at 1.2670 or, on the other hand, increase the risks of the bearish trend’s resumption.
On H1, USD/CAD there is a “Spike and ledge” pattern. A successful test of the upper or lower border of the 1.2375-1.2510 consolidation range will create grounds for a “Bat” pattern or AB=CD.
Recommendation: SELL 1311 SL 1326 TP1 1281 TP2 1272 TP3 1250 SELL 1280 SL 1295 TP1 1250 TP2 1244 On the daily chart of USD/XAU, bulls have to break resistance at 1302…
Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the prices are reached the main daily resistance on 111.50 and the market is overbought now.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…