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USD/CAD: bulls remain in control

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Recommendation:

BUY 1.292 SL 1.2865 TP1 1.302 TP2 1.3245

BUY 1.2715 SL 1.266 TP1 1.2815 TP2 1.2915

On the daily chart, USD/CAD keeps forming an inverted “Shark” pattern with a target at 88.6%. To continue the rally bulls, need to renew October low. As long as the pair is trading below 1.2710-1.2715, buyers remain in control of the situation. Pullbacks may be used for buying.

CAD1.png 

On H1, USD/CAD there’s a “Spike and reversal with acceleration” pattern. To break the uptrend, bears need to lead the pair below 1.26.

CAD2.png

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