An opportunity to buy USD/CAD

An opportunity to buy USD/CAD

Recommendation:

BUY 1.3005

SL 1.2950

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.

USDCAD daily.png 

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”.

USDCAD h1.png

Similar

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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