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.

usdcad_d.png

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.

usdcad_60.png

Similar

EUR/CHF looks ill

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

USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Latest news

EUR/CHF looks ill

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

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