On the daily chart of USD/CAD, the implementation of the "Bat" and AB=CD patterns continues.
USD/JPY: yen got lost
BUY 110.5 SL 109.95 TP1 111.5 TP2 112.5 TP3 114.5
SELL 109.4 SL 109.95 TP1 108.4 TP2 107.2 TP3 106.05
On the daily chart of USD/JPY, the inability of bears to pull the pair below the uptrend channel points at their weakness. If bulls manage to overcome resistance at 110.95, the odds of the pair going to 200% of the AB=CD will increase.
On H1 of USD/JPY, a break of resistance at 110.5 will trigger “Wolfe waves” pattern with targets above 111.5. To develop a correction, bears need to pull the pair below support at 109.4.
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...