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 is lying on the shelf
TP 1250 TP2 1270 TP3 1289
On the daily chart, after XAU/USD had reached 88.6% target of the “Shark” pattern there was a natural pullback. Bears are counting on the decline to the 113% target. For that, they have to pull the price below July low.
On H1, there’s a “Spike and ledge” pattern on the basis of 1-2-3. A break of the upper border of the 1218-1235 consolidation range will trigger a butterfly pattern with a target at 127.2%. On the other hand, a successful test of 1218 will open the way to the 127.2% target of AB=CD.
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...