On the daily chart of USD/CAD, the implementation of the "Bat" and AB=CD patterns continues.
USD/JPY: yen entered a dead area
SELL 110.55 SL 111.1 TP1 109.55 TP2 109.1 TP3 108.65
BUY 111.5 SL 110.95 TP1 112.2 TP2 112.85 TP3 114.95
On the daily chart, USD/JPY entered a dead area. Bulls are trying to return the pair inside the previous trade channel and continue the advance towards the 200% target of AB=CD. Bears are trying to hold it within the long-term downtrend channel.
On H1, USD/JPY keeps forming a “Spike and reversal with acceleration”. A break of the trendline of the initial stage will let bears continue the decline.
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...