USD/CAD: the USD weakens

USD/CAD: the USD weakens

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.

usdcad_d.png

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.

usdcad_60.png

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After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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