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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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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