On the USD/CAD daily chart, quotes continue to move within the upward trading channel.
The “bullish” trend will continue until the quotes fall below 1.3306.
A successful test of this support may lead to the downward correction.
On the USD/CAD hourly chart, there is a consolidation in the upward trade channel within 1.33-1.3465 range. Breakout of the upper boundary of this trade channel can lead to the continuation of the rally in the direction of the 1.35 and 1.36 targets of the AB = CD and “Crab” patterns. In contrast, a successful test of the support will contribute to the quotes’ decline towards 1.32 and 1.3115 levels.
Recommendations: SELL 1,3305 SL 1,336 TP1 1,32 TP2 1,3115 BUY 1,3465 SL 1,341 TP 1,36.
Origin: FX BAZOOKA
