USD/CAD: loonie is losing grounds

USD/CAD: loonie is losing grounds


SELL 1.2735

SL 1.279

TP1 1.2635 TP2 1.2535 TP3 172445

On the daily chart of USD/CAD, the inability of bears to keep the pair beyond the uptrend channel and reach 88.6% target of the “Shark” points at their weakness. Bulls counterattacked and aim to trigger AB=CD pattern with target at 127.2.


On H1, USD/CAD reached 113% target of the “Shark”. As a result, the risks of decline to 38.2%, 50% and 61.8% of the wave CD increased. To return in the game, bears need to pull the pair out of the uptrend channel.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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