The pair is greatly influenced by the constant changes in global risk sentiment as well as the policy of the central banks.
USD/CAD: bears are weak
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.
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.
The market is likely going to continue declining. The main intraday target is the next support at 1.1526 - 1.1508...
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.
AUD/CAD falling inside impulse waves 3 and (C) Next sell target - 0…