USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/JPY is preparing for an attack
TP1 112.4 TP2 113.3 TP3 113.7
On the daily chart, USD/JPY bulls managed to lead the pair outside the long-term downtrend channel. They are attacking resistance at 111.6 (50% of the long-term bearish wave). If they succeed, the odds of triggering of a “Shark” with 88.6% and 113% targets will increase.
On the daily chart, USD/JPY tested and retested resistance at 111.05 successfully (now it’s a support). As a result, the way up opened for the pair towards 112.4 (113%) and 113.3 targets of “Shark” and “Wolfe waves”.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
Oil prices have been climbing up for a long time. What have stopped them?
There has been some movement in the EUR/USD chart. What's happening?
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?