USD/CAD – bears eyeing close below 1.2460

Monthly chart below shows a close below 1.2460 – May 2016 low would be followed by a decline to rising trend line supp of 1.2252.

USDCAD M1 (07-31-2017 1903).png

Advertisements

Euro erases losses, breaks falling trend line

1-hour chart… nice breach of the falling trend line, we would have a sort of bullish flag breakout of the current hourly candle closes above the falling trend line. Draghi is trying hard to kill the EUR rally, but it isn’t working… everyone knows taper has already begun for countries like Germany as the ECB has fallen short of the mandatory bond purchases for three months to June.

EURUSD H1 (07-20-2017 1814).png