Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
USD/CHF: bulls got a chance
Recommendations:
BUY 0.958
SL 0.9525
TP1 0.968 TP2 0.974 TP3 0.979
On the daily chart of USD/CHF, bulls managed to push the pair out of the long-term downtrend channel and implement the “AB=CD” pattern with the 224% target. To continue the rally, the pair should break the resistance at 0.9811.
On H1, the “Spike and reversal with acceleration” pattern is implemented. The bullish trend will continue until the pair falls below the bottom boundary of the uptrend. Pullbacks to supports at 0.958 and 0.9555 may be used for long positions.
Ivan Karamazov
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