USD/CAD: the CAD is strong

USD/CAD: the CAD is strong

Recommendation:

SELL 1.319

SL 1.3245

TP1 1.309 TP2 1.303 TP3 1.2925

On the daily chart of USD/CAD, the pair keeps reaching targets of  “Shark” and “Wolfe waves” patterns. When the pair reaches the 88.6% target of the “Shark” pattern, risks of the pullback will increase. Vice versa, a break of the resistance at 1.319 will increase the possibility that the pair will reach the 1.3315 target of the “Wolfe waves” pattern.

usdcad_d.png

On H1, the pair reached the target of the “Wolfe waves” pattern. A break of the upper boundary of the downward channel will increase odds of the formation and implementation of the reversing “Three Indians” pattern.

usdcad_60.png

Similar

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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