Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/USD: the EUR is strengthening
Recommendation:
BUY 1.1445 SL 1.139 TP1 1.1545 TP2 1.159 TP3 1.169
On a daily chart of EUR/USD, there is a correction towards the downward middle-term trend as a part of the transformation of the "Shark" pattern into 5-0.
If the pair successfully breaks the resistance at 1.1445 (38.2% from the CD wave) the "Head and shoulders" pattern will be implemented. Bulls will have a chance to move the pair out of the downward channel and continue going up.
On H1, the break of the downward channel' upper border and successful test of the resistance at 1.1445 will increase the risks of the implementation of the 88.6% targets of the "Bat" and "Shark" patterns.
Ivan Karamazov
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