USD/CAD: is the CAD stronger?

USD/CAD: is the CAD stronger?

Recommendation: SELL 1.327

SL 1.3325

TP1 1.317 TP2 1.308 TP3 1.289

On the daily chart of USD/CAD, bears couldn’t keep the pair within the downward channel, it signals their weakness.  Bulls want to push the pair to targets of the “Shark” pattern (113%) and “Wolfe Waves”. When the pair reaches the 1.327-1.3315 convergence, risks of the rebound will increase.  

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On H1, bulls are stronger. A break of the resistance at 1.316 will increase the chance that the pair will reach the 113% target of the “Shark” pattern.  However, after the pair reaches it, risks of the correction will increase.

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How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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