USD/CAD: bulls are making conditions

USD/CAD: bulls are making conditions

Recommendation:

BUY 1.2920

SL 1.2865

TP1 1.302 TP2 1.316 TP3 1.327

On the daily chart, USD/CAD bulls are trying to lead the pair out of 1.272-1.3 range within “spike and ledge”. If they succeed, advance towards 1.3270-1.3295 convergence area (127.2 and 200% targets of AB=CD) will likely continue.

CAD1.png 

On H1 of USD/CAD, bulls are in control of the situation. They managed to bring the pair to 161.8% target of AB=CD. If the pair retests support at 1.2920, it will be possible to buy the US dollar.

Similar

EUR/USD is at the key support

EUR/USD is still supported by the 200-week MA at 1.1310. The pair came to the support line connecting November lows for the third time

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...

gbp

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