USD/CAD: loonie is flirting with a triangle

Recommendation:

BUY 1.3050 SL 1.2995 TP1 1.3150 TP2 1.3250 TP3 1.3315

SELL 1.2750 SL 1.2805 TP1 1.2650 TP2 1.2590 TP3 1.2440

On the daily chart, USD/CAD bulls are trying to lead the pair out of a triangle and continue north to 127.2% and 200% targets of the senior and junior AB=CD patterns. The necessary condition for an uptrend resumption is a confident break of resistance at 1.3050.

On H1 of USD/CAD, there are conditions for the formation of a reversal pattern “Broadening wedge”. To make it happen, bears need to pull the pair below support at 1.2750.

Ivan Karamazov

Similar

21.08.2018 05:45 USD/JPY: the Dollar updated August’s lows

Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen.

jpy

21.08.2018 05:44 AUD/USD: aussie corrected to positive zone

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising lines.

aud

20.08.2018 09:55 AUD/USD: trading opportunuties

On the daily chart, AUD/USD pulled back after reaching 113% target of the “Double top”.

usd aud

Popular

23.06.2017 08:56 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.

17.08.2017 23:02 GBP/JPY broke support level 141.30

GBP/JPY broke support level 141…

gbp jpy

24.05.2017 06:22 USD/CHF: bears saw a dragon

Recommendation: BUY 0,9765 SL 0,971 TP1 0,985 TP2 0,9895…