USD/CAD: bulls saw a red rag

USD/CAD: bulls saw a red rag

Recommendation: BUY 1,277 SL 1,2715 TP1 1,287 TP2 1,294. 

On the daily chart, bulls are trying to develop their advantage and conquer resistance at 1.2737-1.2765. If they succeed, the odds of correction towards 1.2925-1.2939 will increase. To resume the downtrend, bears need to lead the pair outside of the bullish trend channel and then overcome support at 1.2650.


On H1, USD/CAD formed the “Dragon” pattern. A successful test of resistance at 1.2770 will strengthen the risks of a pullback to 1.2870 and 1.2940.





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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