USD/CAD: the USD weakens

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.

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

Similar

Risk Assets or USD?
Risk Assets or USD?

What will happen?  This week several important macroeconomic reports will be presented…

China-Taiwan Conflict to Destroy the Markets
China-Taiwan Conflict to Destroy the Markets

China may respond to US House Speaker Nancy Pelosi's visit to Taiwan with military provocations, including firing missiles near Taiwan or large-scale air or naval activities…

Latest news

UK: No Longer a Leading Economy
UK: No Longer a Leading Economy

The current situation is terrible, and the future is worse for the United Kingdom. Will the British pound withstand the challenges that await the UK economy, or will it collapse?

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera