USD/CAD: the loonie rebounded from the bottom

USD/CAD: the loonie rebounded from the bottom


SELL 1.3155 SL 1.321 TP1 1.3055 TP2 1.3025 TP3 1.3

On the daily chart of USD/CAD, the targets of "Shark" (88.6%) and "Wolfe Waves" patterns were implemented. After that, there was a logical reversal as a part of the "Shark" pattern's transformation into 5-0. The further direction of the pair depends on the bulls' ability to hold the supports at 38.2%, 50% and 61.8% from the CD wave. 


On H1, bears managed to move the pair out of the upward channel. It activated the "Shark" pattern and showed the strength of bears. 



XAU/USD: a short-term trade

Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.

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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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