Trade idea for USD/CAD
Read the article on FBS website
Recommendation:
SELL 1.2985
SL 1.304
TP1 1.2885 TP2 1.273 TP3 1.267
On the daily chart, bulls are trying to return USD/CAD inside the long-term uptrend channel. If they fail, sellers will seize the initiative. Bears want to renew September low and trigger a “Broadening wedge” and AB=CD.
On H1, if USD/CAD pulls back from resistance at 1.3075 and forms “Three Indians” pattern on the correction, it may be a signal for selling. A conservative approach suggests selling on the break of support at 1.2985.
