USD/CAD: loonie learned 3 moves

USD/CAD: loonie learned 3 moves

Recommendation:

SELL 1.3055

SL 1.311

TP1 1.2955 TP2 1.2855 TP3 1.275

On the daily chart, USD/CAD keeps forming “Three moves” pattern as well as “Spike and reversal with acceleration”. A successful test of support at 1.3055 will allow bears to lead the pair out of the descending trend channel and continue the decline. On the other hand. A turn around from the important level will give bulls hope for the uptrend’s resumption.

usdcad_d.png 

On H1 of USD/CAD, bulls are trying to form a “Three Indians” pattern and resume the uptrend. However, if the pair slides below July low, the sellers will develop a correction.

usdcad_60.png

Similar

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...

gbp

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