EUR/GBP: Ichimoku clouds
This is today’s four-hour chart. Kijun-sen and Tenkan-sen lines have merged and the lines are horizontal. The confirmative line Chikou Span is above the price chart with the current cloud ascending. The currency pair has been corrected to the Tenkan-sen line with merged Kijun-sen and Tenkan-sen lines with a strong support level of 0.87478. One of the previous maximums of Chikou Span line is predicted to have a resistance level of 0.88260.
USD/CAD to fall
Over the past two weeks, there has been a fall in oil quotes which weakened the Canadian dollar and the USD/CAD pair is seen as flat with the range of 100 points: between the levels of 1.3410 and 1.3510.
There are no releases from Canada in the first half of this week. The main impact on the pair’s movement will be how the investors react to the US Federal Reserve decision on interest rates that is going to take place on June 14. It is expected that investors won’t change the current trend before the decision of the FED and, therefore, there is a consolidation prediction for the pair in the next two days.
Support and resistance
Support levels:В 1.3510, 1.3580, 1.3640, 1.3710.
Resistance levels: 1.3410, 1.3380, 1.3300, 1.3220.