Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CAD: the CAD has chances
Recommendation:
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.
Ivan Karamazov
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