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GBP sinks, AUDJPY goes lower. USDCAD with a nice reversal pattern

Tomasz Wiśniewski

Worse CPI in the UK sends the GBP lower. On the GBPCAD it helps to break the long-term up trendline and the lower line of the rectangle. That is a strong sell.

AUDJPY created two shooting stars on the daily chart and the head and shoulders formation on the H4. We already broke the neckline and the sell signal is ON.

USDCAD created an inverse head and shoulders formation on the long-term up trendline. The neckline was already broken. That creates us a good buying opportunity.

This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

This article was originally posted on FX Empire