Risk Assets or USD?
What will happen? This week several important macroeconomic reports will be presented…
USD/CAD: the USD weakens
2019-11-11 • Updated
Recommendation:
SELL 1.3285 SL 1.334 TP1 1.3195 TP2 1.3115 TP3 1.2985
On the daily chart of USD/CAD, the pair reached the 113% target of the "Shark" pattern. It increased the risks of the reversal towards the 23.6%, 38.2% and 50% of the CD wave as a part of the transformation into the 5-0 pattern. At first, bears need to pull the pair out of the upward channel.
On H1, bears may implement the "Broadening Wedge" reversal pattern. To reach this goal, they need to break the support at 1.3285 and reach the 161.8% target of the "Crab" pattern.
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