On the USD/CAD daily chart, bulls failed to test the resistance at 1.3175. It is not possible to talk about the realization of the Wolf waves. Perhaps a new attempt will be more successful than the previous one.
Meanwhile, there is a growing risk of another movement towards the lower border of the long-term upward trading channel.
On the USD/CAD hourly chart, a breakout of the resistance at 1.312 will lead to the return of the quotes within the boundaries of the previous upward trading channel. Alternatively, a drop below support at 1.308 will contribute to the implementation of the target 88.6% in the AB = CD pattern.
Recommendations:
BUY 1,312 SL 1,3065 TP 1,322,
BUY 1,303 SL 1,2975 TP 1,316.
Origin: FX BAZOOKA
