During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
USD/CAD: bulls remain in control
2019-11-11 • Updated
Recommendation:
BUY 1.292 SL 1.2865 TP1 1.302 TP2 1.3245
BUY 1.2715 SL 1.266 TP1 1.2815 TP2 1.2915
On the daily chart, USD/CAD keeps forming an inverted “Shark” pattern with a target at 88.6%. To continue the rally bulls, need to renew October low. As long as the pair is trading below 1.2710-1.2715, buyers remain in control of the situation. Pullbacks may be used for buying.
On H1, USD/CAD there’s a “Spike and reversal with acceleration” pattern. To break the uptrend, bears need to lead the pair below 1.26.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...