USD/CAD: bulls pull the pair up

USD/CAD: bulls pull the pair up

Recommendation:

BUY 1.3425 SL 1.337 TP1 1.3525 TP2 1.3565 TP3 1.36

On the daily chart of USD/CAD, the implementation of the "Bat" and AB=CD patterns continues. Their 88.6% and 127.2% targets mark the convergence zone near the 1.36 level. Bulls need to break the resistance at 78.6% of the "Bat" pattern's XA wave to pull the pair further up. 

usdcad_d.png

On H1, the return to the support at 1.3285 followed by the implementation of the "Broadening Wedge" pattern will increase the risks of the fall. Otherwise, if the resistance at 1.3425 is broken, the pair will keep moving up. 

usdcad_60.png

Similar

CAD/JPY turned down

CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4.

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