USD/CAD reversed from support zone

USD/CAD reversed from support zone

2019-11-11 • Updated

  • USD/CAD reversed from support zone
  • Next buy target - 1.3400

USD/CAD continues to rise inside the minor impulse wave 3 – which started earlier from the support zone lying between the key support level 1.3320 (which reversed the pair with the daily Japanese candlestick reversal pattern Evening Star Doji in January) and the 38.2% Fibonacci retracement of the previous sharp upward impulse 1 from last January.

USD/CAD is expected to rise in the active minor impulse wave 3 (which belongs to the intermediate impulse (3) from January) toward the next buy target at the resistance level 1.3400.

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