USD/CAD wants out of the corridor

USD/CAD wants out of the corridor


BUY 1.2920 SL 1.2865 TP1 1.3020 TP2 1.3120 TP3 1.3300

SELL 1.2795 SL 1.2850 TP1 1.2695 TP2 1.2590 TP3 1.244

On the daily chart, USD/CAD is consolidating in the 1.2795-1.2920 range in line with an uptrend. A break of its upper border will allow bulls to count on the continuation of the rally towards 127.2% target of AB=CD. On the other hand, successful test of support at 1.2795 will increase the risks of decline to the lower border of the uptrend channel.


On H1, a conservative approach means buying at 1.2945 – the upper border of the previous consolidation range within the “Spike and ledge” pattern.




GBP/USD is losing ground

On the daily chart, GBP/USD keeps correcting to the long-term uptrend. Bulls tried to return the pair inside the previous consolidation range of 1.3455-1.3615.

USD/CHF: franc is showing signs of live

USD/CHF is correcting to the long-term bullish trend. To break the trend, the pair has to get out of the uptrend channel and form a “Spike and reversal with acceleration”.

GBP/USD: pound may continue downtrend

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market tested Kijuns’s resistance and returned to Monday’s lows.



Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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