USD/CAD Pair Presents Buy Opportunity
ahmed Darwish | Feb 07, 2018 09:34AM ET
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 :
- Finished wave 4 as it made a retracement from 38.8% Fibonacci.
- Broke the sub-trend (pink trend) by a good one hour candle which indicates start of a 5th wave.
- There is a hidden bullish divergence between wave 2 and 4 and this is an aim to continue the direction and the bullish momentum.
- 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 .
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