USD/CAD: loonie showed wings

USD/CAD: loonie showed wings


BUY 1.2885

SL 1.283

TP1 1.2985 TP2 1.313 TP3 1.325

On the daily chart, the inability of bears to hold USD/CAD below the lower border of the uptrend channel points at sellers’ weakness. To restore the uptrend and reach 88.6% target of the “Shark” pattern, bulls need to conquer resistance at 1.2922.


On H1, return to resistance area at 78.6% and 88.6% of the wave 4-5 of the “Widening wedge” means that bulls are in control.




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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