Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
USD/CAD: triangle will be the judge
2019-11-11 • Updated
BUY 1.251 SL 1.2455 TP1 1.264 TP2 1.28 TP3 1.2855
SELL 1.2375 SL 1.243 TP1 1.2275 TP2 1.22 TP3 1.2125
On the daily chart, USD/CAD keeps fighting for an important level of 1.2462. Near it the pair formed a triangle. The break of it will either allow bulls to count on the pair’s return to resistance at 1.2670 or, on the other hand, increase the risks of the bearish trend’s resumption.
On H1, USD/CAD there is a “Spike and ledge” pattern. A successful test of the upper or lower border of the 1.2375-1.2510 consolidation range will create grounds for a “Bat” pattern or AB=CD.