USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
USD/CAD: bullish 'Harami'
2019-11-11 • Updated
There's a bullish 'Harami', which has been formed above the Moving Averages. Also, there's no any bearish pattern so far. In this case, we should watch the nearest resistance at 1.3559 as a potential target. The subsequent pullback from this level could lead to a downward correction towards the 34 Moving Average.
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
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