USD/CAD: the loonie follows the “Bat”

USD/CAD: the loonie follows the “Bat”

Recommendation:

SELL 1.311

SL 1.3165

TP1 1.301 TP2 1.2915 TP3 1.2795

On the daily chart of USD/CAD, bears try to counterattack and implement the “Bat” pattern. Its 88.6% target corresponds to 1.2795. First of all, bears need to break supports at 1.311 and 1.3055 and pull the pair out of the upward short-term channel.

usdcad_d.png

On H1, there is the strong bullish trend. To counterattack, bears have to break the support at 1.311 and implement the AB=CD pattern.

usdcad_60.png

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