USD/CAD is another pair that has the potential to make significant moves in the near term.
USD/TRY is looking for patterns
SELL 5.30; TP 5.2685; SL 5.3150
SELL 5.2380; TP 5.2230; SL 1.2430
USD/TRY has been trying to recover since the end of January. The pair formed a higher low. What we see on the chart may be a forming harmonic “Bat” pattern. It means that USD/TRY may continue higher, to 5.3040 to complete the pattern. In that area, it will likely meet resistance (there are also 50- and 200-day MAs in that zone) and turn down. If the pair fails to overcome resistances at 5.2605 and 5.2685, it will first go down to support at 5.2230.
Last week USD/CHF broke below the uptrend support line of 2018.
CHF/JPY met the resistance of the declining 50-day MA and turned down. Its potential target lies at the support line connecting the lows of May in the 108.25 area.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.