USD/CAD: bulls took a pause

USD/CAD: bulls took a pause

2019-11-11 • Updated

Recommendation:

BUY 1.2595

SL 1.254

TP1 1.2715 TP2 1.292 TP3 1.324

On the daily chart, bulls decided to take a pause after reaching the maximal level since the end of August. Until then, as long as the quotes are above support at 1.2462 (23.8% of the last medium-term term descending wave), buyers remain in control of the pair.

CAD1.png  

On H1, USD/CAD pulled back down after reaching resistance at 88.6% of the last descending wave and 161.8% target of AB=CD. To resume the uptrend bulls need to push the pair above 1.2595.

CAD2.png

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