Currency analyst

USD/CAD: loonie is ready for changes

On the USD/CAD daily chart, a breakout of resistance line at 1,323 will activate the AB = CD and the Crab patterns. Their targets are located in the zone of 1,355-1,357. To continue the rally, the "bulls" should consolidate their positions at the 1.33 level.


On the hourly USD/CAD chart, the target 78,6% of the Gartley pattern has been fulfilled. A successful bullish attack of the resistance line at 1.323 will lead to the transformation of the Gratley pattern into the Crab pattern. The target of the Crab pattern is located at the 1.334 level.  

Recommendation:  BUY 1,323 SL 1,3175 TP1 1,334 TP2 1,355

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