USD/CAD: bears are weak

USD/CAD: bears are weak

Recommendations:

BUY 1.305 SL 1.2985 TP1 1.313 TP2 1.317 TP3 1.328

SELL 1.275 SL 1.2805 TP1 1.265 TP2 1.259 TP3 1.244

On the daily chart of USD/CAD, bears tried to return the pair to the triangle many times but failed. It shows a weakness of bears. If the pair breaks the resistance at 1.305, it will be able to go to 127.2% and 200% targets of senior and junior AB=CD patterns.  

usdcad_d.png

On H1, bears will control the trading until the pair is below 1.275. If the pair breaks the support at 1.275, the “Broadening wedge” pattern will be implemented.  

usdcad_60.png

Similar

USD/JPY took a blow

USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.

Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

gbp

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