Sell USD/CAD on recoveries
Pullbacks towards 23.6%, 38.2%, and 50% of the wave 4-5 can be used for selling with 161.8% target of AB=CD.
USD/JPY: bulls left the stall
Recommendation:
BUY 114.3
SL 113.75
TP1 115.3 TP2 116.25
On the daily chart, USD/JPY will continue forming the “Shark” pattern with the target at 113%. Rebound of the quotes from the lower border of the upside trend channel with the following formation of the pin bar means that bulls are seizing back the initiative.
On H1, a break above of the neckline of “Head and shoulders” pattern points at unsuccessful retest. This strengthens the risks of the pair’s advance. Its return to resistance at 114.30 with the following increase above this level will allow bulls to continue the rally.
Ivan Karamazov
Similar
Gold is about to choose direction
On the daily chart, XAU/USD keeps consolidating in the 1188-1213 range.
USD/JPY: dollar reached July’s highs
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen but the lines are horizontal.
Latest news
GBP/USD: confirmed "Thorn" pattern
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: time to correct?
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
EUR/USD: "Tweezers" on 34 Moving Average
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
Deposit with your local payment systems
