Cable is having a beautiful head and shoulders pattern. Formation is already active as the price broke the neckline. We even tested that as a resistance. As long as we stay below the 1.408, the sentiment is negative and we should see a further drop.
EUR/CAD is also having a head and shoulders formation but the thing is that we did not break the neckline yet. That is what sellers are expecting and hoping for now. The breakout of the neckline will be a strong signal to go short with a nice risk to reward ratio. The target for this slide is more than 500 pips lower. Tempting, huh?
Since the middle of January, EUR/USD is locked inside of the range between 1.218 and 1.254 (orange). We are awaiting for the breakout, which can potentially bring us a very lucrative movement. Situation is interesting for the patient traders only cause it looks like we will have to wait for this breakout a bit.