USD/CAD: loonie is flirting with a triangle

USD/CAD: loonie is flirting with a triangle


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.




USD/JPY took a blow

USD/JPY formed a big bearish candlestick yesterday that almost engulfed the previous bullish one.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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