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USD/CAD Pair Presents Buy Opportunity

Published 02/07/2018, 09:34 AM
Updated 07/09/2023, 06:32 AM

By looking at USD/CAD pair one hour chart below, the pair started a new bullish momentum on 2nd of February by making 4 waves and is expected to go further towards the upside due to the following reasons :

  1. Finished wave 4 as it made a retracement from 38.8% Fibonacci.
  2. Broke the sub-trend (pink trend) by a good one hour candle which indicates start of a 5th wave.
  3. There is a hidden bullish divergence between wave 2 and 4 and this is an aim to continue the direction and the bullish momentum.
  4. Price break above the 21 EMA and 144 EMA on the one hour chart and the 4 hour.

Ss we see a good buy opportunity for USD/CAD and our target is -27.2 and -0.618 and ST Fibonacci 50% level .USD/CAD Market View

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