USD/CAD: bulls reached a convergence zone

USD/CAD: bulls reached a convergence zone

On the USD/CAD daily chart, there is a continuation of the rally towards the convergence zone 1.38-1.384 (target of the reversed "Butterfly" pattern and 61.8% Fibonacci level from the last long-term downward wave). As long as the pair is above support at 1.357, the "bulls" retain their control over the pair.

On the USD/CAD hourly chart, the "Expanding Wedge" pattern was implemented. Target 161.8% of the AB = CD pattern was hit. The return of quotes to support at 1.365 followed by its successful test might result in a correction.

Recommendation: SELL 1.365 SL 1.3705 TP 1,355. 

Similar

GBP/USD: pound looking for new highs

Expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the market supported by Tenkan-sen and it will continue the uptrend.

EUR/USD: euro tested main resistance

Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are a tested the main daily resistance, but the market needs a correction.

Popular

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later