Trade idea for USD/CAD
On the daily chart, bulls are trying to return USD/CAD inside the long-term uptrend channel.
NZD/USD: bears found a shark
Recommendation:
SELL 0.7225
SL 0.728
TP1 0.715 TP2 0.7105
On H1, the inability of the bulls to lead the pair outside of the descending channel and formation of the bar with the long upper wick points at buyers’ weakness. Realization of the inverted 5-0 pattern is delayed.
On H1, NZD/USD reached the targets if the “Widening wedge”, “Three Indians” and 1-2-3. If the pair renews correction low with the following decline below the lower border of an uptrend channel, risks of reaching 88.6% target of a Shark pattern will increase.
Ivan Karamazov
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