On the daily chart of USD/CAD, the implementation of the "Bat" and AB=CD patterns continues.
USD/JPY: bears are attacking
TP1 110.15 TP2 109.90 TP3 109
On the daily chart, bears managed to seize the initiative and return USD/JPY to the long-term downtrend channel. As a result, the odds of it getting to 161.8% target of AB=CD increased. It’s located near 109.
On H1, USD/JPY is forming a “Bat” with the 88.6% target. A break of support at 110.60 or a retest of the lower border of the uptrend channel near resistance at 111.15 will allow bears to continue the attack.
On the daily chart of XAU/USD, the rebound from the support at 1,239 helped to open long positions.
On the daily chart of AUD/USD, the implementation of the purple "Shark" pattern with the 88.6% target continues.
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...