Currency analyst

USD/CAD: bulls stayed too long

On the USD/CAD daily chart, 'bears" managed to reach the level of 1,305. If they fail to test the support at 1.2977, it will warn us of their weakness. "Bulls" will be ready to start the counter attack, as soon as they manage to overcome the 1.31 level.

On the USD/CAD hourly chart, formation of the 1-2-3 reversal model tells us that quotes will rise. The target of the "Crab" pattern is at 1,314-1,315.

Recommendations: BUY 1,309 SL 1,3035 TP1 1,315 TP2 1,33. 

Scroll to top