USD/CAD: the loonie is waiting for the signal from the “wedge”

USD/CAD: the loonie is waiting for the signal from the “wedge”

Recommendation:

SELL 1.3045

SL 1.31

TP1 1.296 TP2 1.2885 TP3 1.2845

On the daily chart of USD/CAD,  bears couldn’t break the support at 1.2885 and keep the pair below 1.296. It signals their weakness. Bulls took the initiative and want to implement the “Shark” pattern and reach its 88.6% target.

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On H1, the break of the resistance at 1.3165 will implement the junior “Shark” pattern with the 113% target. Vice versa, if bulls can’t do that, there will be odds of the “Broadening wedge” pattern’s implementation.

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Similar

How to trade EUR/GBP?

The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.

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