Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
USD/CAD: bulls launch an attack
2019-11-11 • Updated
TP1 1.2985 TP2 1.3075
On the daily chart, the inability of bears to let USD/CAD outside of the uptrend channel points at sellers’ weakness. Bulls managed to hold to 1.2717 and are able to go to 88.6% target of the “Shark” pattern.
On H1, a break of the upper border of the downtrend channel increases the risks of triggering AB=CD pattern and reaching 127.2%, 161.8%, and 200% targets. However, at first, bulls need to push the pair above 1.2830.
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