Expanding bearish Ichimoku Cloud with falling Senkou Span A; a new cross of Tenkan-sen and Kijun-sen
USD/CAD: will 5-0 be realized?
BUY 1.3435 SL 1.3380 TP 1.3650
BUY 1.3375 TP 1.3320 TP 1.3525
On USD/CAD daily chart, the 5-0 and Wolf Waves patterns are in the process of realization. If "bears" manage to test support levels at 1.3435 and 1.334, the target of Wolf Waves pattern will be fulfilled. In contrast, the rollback from 50% and 61.8% levels of the CB wave in the Shark pattern will allow the "bulls" to count on the restoration of the long-term uptrend.
On USD/CAD hourly chart, correction of the bullish trend continues. The rollback may end within the 161.8% target of the "Crab" pattern. It corresponds to the lower border of the upward trading channel.
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
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