USD/CAD: loonie went to Sweet Zone

USD/CAD: loonie went to Sweet Zone

2019-11-11 • Updated

Recommendation: 

  • SELL 1.3650 
  • SL 1.3705
  • TP1 1.3525, TP2 1.3370 

On the daily chart, USD/CAD reached 127.2% target of the inverted "butterfly" pattern. At the present time, the quotes are in the Sweet Zone of the "Wolfe Waves" pattern. A movement to the downside is possible from this area.

On H1 USD/CAD keeps forming reversal 1-2-3 pattern. Together with the "3 Indians" pattern, it forms the powerful bearish combo. The lower border of the uptrend may be simultaneously breached. This is a selling signal, which points at 161.8% target of the "Crab" pattern.

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