Trade idea for USD/CAD
On the daily chart, bulls are trying to return USD/CAD inside the long-term uptrend channel.
AUD/USD: bulls loosened their grip
Recommendation:
BUY 0.7895
SL 0.7840
TP1 0.7990 TP2 0.8050 TP3 0.8125
On the daily chart, AUD/USD is fighting for an important level – 78.6% of the wave CD of the 5-0 pattern. The necessary condition for an uptrend’s resumption is a confident advance above resistance at 0.8050. As long as the pair keeps trading above 0.7885-0.7895, bulls remain in control.
On H1, there’s a “Spike and reversal with acceleration” pattern. The pullback from the lower border of the uptrend’s channel and supports at 0.7895 and 0.7870 will allow speaking about the end of correction.
Ivan Karamazov
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