British pound breakout soon?
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
USD/CAD: loonies needs a rest
2019-11-11 • Updated
On the USD/CAD daily chart, the final target in the Wolfe Waves pattern has been fulfilled and the 23.6% level of the 2016 downward near-term wave has been reached. As a result, the risks for the correction from the current levels, or from the 113% target of Shark pattern have increased.
On the USD/CAD hourly chart, Bulls’ positions seem hopeless. Nevertheless, a successful test of the resistance in the form of the convergence zone at 1.303 – 1.304 will increase the risks of the rollback towards 38.2%, 50%, 61.8% from the last downward wave.
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