USD/CAD: Canadian dollar is in charge

USD/CAD: Canadian dollar is in charge

Recommendation:

SELL 1.2950

SL 1.3005

TP1 1.2865 TP2 1.2825

On the daily chart of USD/CAD, sellers attempted to trigger a “Bat” pattern with a target at 88.6%. It failed but they don’t want to give up. On the other hand, they are ready for another attack. If they succeed, the decline will continue.

USDCAD daily.png 

On H1, sellers managed to trigger a “Butterfly” and AB=CD. Their 161.8% targets form a convergence area. To reach it, bears need to pull the price below the August low.

USDCAD h1.png

Similar

AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

USD/CHF may rise a bit

USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.

Latest news

AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

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