USD/CAD wants out of the corridor

USD/CAD wants out of the corridor


BUY 1.2920 SL 1.2865 TP1 1.3020 TP2 1.3120 TP3 1.3300

SELL 1.2795 SL 1.2850 TP1 1.2695 TP2 1.2590 TP3 1.244

On the daily chart, USD/CAD is consolidating in the 1.2795-1.2920 range in line with an uptrend. A break of its upper border will allow bulls to count on the continuation of the rally towards 127.2% target of AB=CD. On the other hand, successful test of support at 1.2795 will increase the risks of decline to the lower border of the uptrend channel.


On H1, a conservative approach means buying at 1.2945 – the upper border of the previous consolidation range within the “Spike and ledge” pattern.




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