USD/CAD: bulls are forcing their way through

USD/CAD: bulls are forcing their way through

On the USD/CAD daily chart, a breakout of the resistance at 1.3405 will allow us to talk about the continuation of the implementation of the 5-0 pattern. After a rollback in the direction of 50% level of the CD wave, the bulls managed to restore the uptrend. They might extend their gains to 1.354 and 1.357.

On the USD/CAD hourly chart, if quotes manage to go out from the 1.328-1.34 consolidation range within "Splash and ledge" pattern, we will be able to open long positions. If the bulls manage to update the March highs and activate the AB = CD pattern, there might a continuation of the rally towards 1.36 direction.

 

Recommendations: hold long positions  (BUY 1,34 SL 1,3345 TP 1,352).

 

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