USD/CAD: bears are weak

USD/CAD: bears are weak

2019-11-11 • Updated

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

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