USD/CAD: the loonie is waiting for the signal from the “wedge”
Read the article on FBS website
Recommendation:
SELL 1.3045
SL 1.31
TP1 1.296 TP2 1.2885 TP3 1.2845
On the daily chart of USD/CAD, bears couldn’t break the support at 1.2885 and keep the pair below 1.296. It signals their weakness. Bulls took the initiative and want to implement the “Shark” pattern and reach its 88.6% target.
On H1, the break of the resistance at 1.3165 will implement the junior “Shark” pattern with the 113% target. Vice versa, if bulls can’t do that, there will be odds of the “Broadening wedge” pattern’s implementation.
