USD/CAD: bears went hunting

USD/CAD: bears went hunting

Recommendation:

SELL 1.2735

SL 1.279

TP1 1.2635 TP2 1.2375 TP3 1.2345

On the daily chart, USD/CAD keeps forming the “Shark” pattern. Its 88.6% target is near 1.2345. To continue the decline, bears have to settle below an important support at 1.2685 as well as the lower border of the uptrend channel.  

CAD1.png 

On H1, USD/CAD reached 224% target of AB=CD. Beers want to continue the decline towards 88.6% target of the “Shark”.

CAD2.png

cad

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