Risk Assets or USD?
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USD/CAD: the loonie rebounded from the bottom
2019-11-11 • Updated
Recommendation:
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.
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