Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
An opportunity to buy USD/CAD
2019-11-11 • Updated
TP1 1.31 TP2 1.3170 TP3 1.3270
On the daily chart, USD/CAD formed a “Broadening wedge”. A break of the upper border of the downtrend channel will increase the odds of a “Shark” pattern with targets at 88.6% and 113%. On the other hand, a pullback from the diagonal resistance will open the way down to 161.8% of AB=CD.
On h1 of USD/CAD, there’s a “Wolfe waves” pattern. If the pair gets above the diagonal resistance 2-4, bulls will be able to continue pushing the pair to 113% target of the “Shark”.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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