An opportunity to buy USD/CAD
Read the article on FBS website
Recommendation:
BUY 1.3005
SL 1.2950
TP1 1.31 TP2 1.3170 TP3 1.3270
On the daily chart, USD/CAD formed a “Broadening wedge”. A break of the upper border of the downtrend channel will increase the odds of a “Shark” pattern with targets at 88.6% and 113%. On the other hand, a pullback from the diagonal resistance will open the way down to 161.8% of AB=CD.
On h1 of USD/CAD, there’s a “Wolfe waves” pattern. If the pair gets above the diagonal resistance 2-4, bulls will be able to continue pushing the pair to 113% target of the “Shark”.
