USD/CAD: loonie is hunting a shark
Read the article on FBS website
Recommendation:
SELL 1.2805
SL 1.286
TP1 1.269 TP2 1.2585 TP3 1.243
On the daily chart of USD/CAD, the pair pulled back after reaching 127.2% target of AB=CD. Bulls failed to keep the pair above the important area of 1.2914-1.2922. This points at their weakness. Triggering of the “Shark” pattern will increase the risks of correction towards 1.2685, 1.2580, 1.2430 and 1.2345.
On H1, a break of support at 1.2805 will trigger the “Shark” and AB=CD. Their targets of 113% and 224% are at 1.2585 and 1.269.
