On the USD/CAD daily chart, after targets on the previously formed longs were fulfilled, “bulls” face with the resistance at 1.3572 (50% Fibo retracement level from the last long-term downward wave + target 161,8% in the “Crab” inverted pattern).
A successful test of the bears’ strongholds can lead to the continuation of the bulls’ rally towards 1.369 and 1.384.
On the USD/CAD hourly chart, “bulls” accelerate their pace. A breakout of resistance at 1,3575 will be a signal for opening long positions.
Recommendation: BUY 1,3575 SL 1,352 TP1 1,369 TP2 1,384.
Origin: FX BAZOOKA
