USD/CAD: a strong CAD

USD/CAD: a strong CAD

2019-11-11 • Updated

Recommendations:

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. 

usdcad_d.png

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. 

usdcad_60.png

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