USD/CAD: bulls retreat, but don’t give up

USD/CAD: bulls retreat, but don’t give up


SELL 1.235 SL 1.2415 TP1 1.225 TP2 1.215 TP3 1.2050

BUY 1.251 SL 1.2455 TP1 1.2635 TP2 1.28 TP3 1.2855

On the daily chart, USD/CAD bears aim to resume the downtrend. To do that they need to attack support at 1.2350. Bulls can return to the game if they manage to push the US dollar above resistance at 1.2462. 


On H1, if USD/CAD gets out of the descending channel and then triggers the “Bat” pattern, the odds of its going to 88.6% target will increase.





USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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