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USD/CAD: the CAD plans to storm

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Recommendations:

SELL 1.3055

SL 1.311

TP1 1.2955 TP2 1.292 TP3 1.28

On the daily chart of USD/CAD, the “Three drives” pattern keeps forming.  The break of the support at 1.3055 will pull the pair out of the upward short-term channel and will activate the “Bat” pattern. Its 88.6% target corresponds to 1.28.

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On H1, bears are going to storm the bottom line of the upward channel. If they succeed, the AB=CD pattern with the 200% target will be implemented.

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