Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/JPY: do you see the pattern?
Information is not investment advice
EUR/JPY seems so be forming a bearish harmonic pattern – something between Crab and Butterfly. There’s still scope for upside towards the 118.70/119.85 area, where a reversal to the downside should take place. Notice, however, that it often happens that the harmonic patterns don’t reach the exact targets. On the H4, the pair’s consolidating within a kind of triangle. The break will lead it either to 117.00 or to the levels mentioned above.
Trade ideas for EUR/JPY
BUY 118.25; TP1 118.70; TP2 119.25; SL 118.10
SELL 117.40; TP 117.00; SL 117.55
Elizabeth Belugina
Similar
NZD/USD: is the correction over?
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
Popular
Goldman Sachs bets against USD
Has the US dollar lost a top position forever?
JPMORGAN: hammer formations
We know that hammer formation may be effective in identifying trend reversals. Let's study it a bit closer to see real-life cases.
Why USD/CAD dropped and for how long?
CAD will get fresh volatility after BOC statement on June 3 at 17:00 MT time.
Choose your payment system
