Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CAD: a strong CAD
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.
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.
Ivan Karamazov
Similar
NZD/USD: is the correction over?
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
Latest news
EUR/USD: who gets what
There has been some movement in the EUR/USD chart. What's happening?
STOCKS: reversal chart patterns
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
USD: the outlook from Hong-Kong
The US-China relations are getting more tensed over Hong-Kong. How does that affect the USD?
Deposit with your local payment systems
