USD/CAD within a consolidative tone

USD/CAD within a consolidative tone

USD/CAD is entering a consolidation phase across the board after having made a rebound above the 1.2543, which has been proven as a strong support in the short-term. During Monday’s session, the pair found resistance in the Fibonacci level of 38.2% at 1.2614 and it targets to make another leg higher. If that happens, then we might expect a continuation to test the 50% Fibo level at 1.2637, ahead of a pullback towards the -23.6% Fibo zone at 1.2498.

RSI indicator stays in the negative territory, favoring to the bears in the short-term.




EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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