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

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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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