USD/CAD: loonie fell from the ledge

USD/CAD: loonie fell from the ledge

Recommendation:

SELL 1.2770

SL 1.2825

TP1 1.2690 TP2 1.2570

On the daily chart of USD/CAD, after a short consolidation in the 1.2810-1.2950 range bulls manage to pull the pair above its lower border and trigger the “Shark” pattern with a target at 88.6%. The necessary condition for the further decline is the fall below support at 1.2685-1.2715.

CAD1.png 

On H1, a break of support at 1.2815 with its following retest triggered the “Spike and ledge”, “Shark” and AB=CD. The targets of the last two at 113% and 224% are at 1.2570 and 1.2690.

CAD2.png

cad

Similar

Popular

EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera