During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
USD/CAD: bulls let the enemy closer
2019-11-11 • Updated
Recommendation:
BUY 1.2710 SL 1.2655 TP1 1.2810 TP2 1.2910 TP3 1.3100
BUY 1.2960 SL 1.2905 TP1 1.3060 TP2 1.3100
On the daily chart of USD/CAD, the “Shark” is transforming into 5-0. Pullbacks from 23.6%, 38.2% and 50% of the wave CD are usually used for formation of long positions. One of the bullish targets may lie at 127.2% of AB=CD pattern.
On H1, USD/CAD keeps forming “Spike and reversal with acceleration”. The necessary condition for the uptrend’s resumption is a break above resistance at 1.2960.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone