On the USD /CAD daily chart, the bears failed to break the psychologically important support at 1.3. If the “bulls” manage to raise the quotes above 1.3175, it can lead to the realization of the trading signals on Wolfe waves.
The target is located at the intersection of the projection drawn from point 5 and wave 1-4 (1.35).
On the USD/CAD hourly chart, the expanding wedge pattern has been formed. It gives a signal of the reversal of the bearish trend. A rollback of quotes to 38.2%, 50% and 61.8% levels can be used for the opening of the long positions. If pair returns to the 1.3035 and 1.3024 levels, it may lead to the continuation of the downtrend.
Recommendations:
BUY 1,307 SL 1,3015 TP1 1,317 TP2 1,319,
BUY 1,3055 SL 1,3 TP1 1,317 TP2 1,319.
Origin: FX BAZOOKA
