USD/CAD: the CAD has chances

USD/CAD: the CAD has chances


SELL 1.315

SL 1.3205

TP1 1.305 TP2 1.3025 TP3 1.2965

On the daily chart of USD/CAD, after the pair reached the 1.3285-1.3315 convergence (targets of "Shark" and "Wolfe waves" patterns), a logical pullback happened. To keep controlling the pair, bulls need to keep it above 1.308.


On H1, there is a transformation of the "Shark" pattern to 5-0. A risk of the correction to 23.6%, 38.2%, and 50% from the CD wave is high. At first, bears need to break the support at 1.315.



Levels to trade EUR/USD

EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.

USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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