USD/CAD: bulls have gone wild

USD/CAD: bulls have gone wild

2019-11-11 • Updated

Recommendation:

BUY 1.2960

SL 1.2905

TP1 1.3060 TP2 1.3250 TP3 1.3350

On the daily chart of USD/CAD, the pair reached 113% and 127.2% targets of “Shark” and AB=CD. This increases the risk of a correction. At the same time, as long as the pair remains above 1.2915, bulls are in total control of the situation.

CAD1.png  

On H1, there’s a sustainable uptrend. The pair’s confidently moving towards 161.8% target of AB=CD. In case of a pullback with the following recovery from support levels at 1.3000 and 1.2960, traders will have a chance to open long positions.  

CAD2.png

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