On the daily chart of XAU/USD, the pair left the downward channel and reached targets of the “Spike and ledge” pattern.
XAU/USD: gold fights for an initiative
BUY 1233 SL 1218 TP1 1248 TP2 1270 TP3 1288
SELL 1214 SL 1229 TP1 1190 TP2 1182
On the daily chart of XAU/USD, the pair reached the 88.6% target of the “Shark” pattern. As a result, risks of the pullback to 23.6%, 38.2% and 50% from the CD wave increased. If bulls fail to counterattack, it will signal their weakness and will let bears pull the pair to 113% target of the “Shark” pattern.
On H1, if the pair reaches the 61.8% target, there is a possibility of a transformation of the “Shark” pattern to 5-0. If bears break the support at 1,214, they will be able to continue the downward movement.
On the daily chart of USD/CAD, the pair is reaching targets of the “Wolfe waves” pattern.
Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen.
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...