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USD/CAD: bulls retreat, but don’t give up

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Recommendations:

SELL 1.235 SL 1.2415 TP1 1.225 TP2 1.215 TP3 1.2050

BUY 1.251 SL 1.2455 TP1 1.2635 TP2 1.28 TP3 1.2855

On the daily chart, USD/CAD bears aim to resume the downtrend. To do that they need to attack support at 1.2350. Bulls can return to the game if they manage to push the US dollar above resistance at 1.2462. 

CAD1.png 

On H1, if USD/CAD gets out of the descending channel and then triggers the “Bat” pattern, the odds of its going to 88.6% target will increase.

CAD2.png

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