USD/CAD is another pair that has the potential to make significant moves in the near term.
XAU/USD: another “Head and Shoulders”
SELL 1307; TP1 1300; TP2 1295; SL 1310
XAU/USD keeps declining after it failed to break above 78.6% Fibonacci retracement of April-August decline in the 1321 area. On D1, Awesome oscillator formed a lower high. In its correction down, gold may test November-January support line at 1295.
On H4, we can see a “Head and Shoulders” pattern with the neckline around 1309. The idea is to sell gold on recovery to this area targeting 1300 and 1295.
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.