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.





USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

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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