Downside target for USD/CAD
USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
XAU/USD: gold is stregthening
Recommendation:
BUY 1225
SL 1210
TP1 1248 TP2 1255 TP3 1263
On the daily chart of XAU/USD, bears couldn't keep the pair within the 1185-1215 consolidation. It signals their weakness. A break of the upper boundary of the downward channel will increase odds of the rise to the 127.2% target of the AB=CD pattern.
On H1, the "Wolfe waves" pattern keeps forming. A successful test of the resistance at 1225 will let bulls hope for the implementation of the "Shark" pattern. Its 113% target is near 1248.
Ivan Karamazov
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