Irregular bullish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with narrowing channel of Tenkan-Kijun.
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.
Expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines.
On the daily chart of GBP/USD, bulls could return the pair to the upper border of the downward channel.
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...