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.

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