USD/CAD: a strong CAD

USD/CAD: a strong CAD

2019-11-11 • Updated


SELL 1.3275 SL 1.333 TP1 1.3175 TP2 1.315 TP3 1.3085

SELL 1.3315 SL 1.337 TP1 1.3215 TP2 1.315 TP3 1.3085

On the daily chart of USD/CAD, bulls almost returned the pair to the 1.3275-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns). When the pair reaches the convergence, it will increase odds of the pullback to the current upward movement. 


On H1, the pair left the short-term consolidation of 1.305-1.3165, it let bulls hope that the pair will reach the 113% target of the "Shark" pattern. After the pair reaches it, risks of the pullback to 23.6%, 38.2% and 50% from the CD wave will increase. 



US Dollar: A Dump or a Correction?
US Dollar: A Dump or a Correction?

After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?

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