USD/CAD: the fight of bears and bulls

USD/CAD: the fight of bears and bulls


SELL 1,264 SL 1,2585 TP 1,274.

On the daily chart, USD/CAD reached 88.6% target of a “Shark” pattern. As a result, the possibility of corrective movement towards 23.6%, 50% and 61.8% of the wave CD increased. The following recoil from the important resistance levels should be used for entering short positions within the current bearish trend.


On H1, bears’ strengths are diminishing. This can be seen from the angle of the downtrend. The break of resistance at 1.2635-1.2640 will allow bulls to start an attack.





USD/TRY has moved sharply down this week falling to the support line since the end of November.

Trade ideas for gold

The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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