03.11.2021
The overall trend is downward. The ascending wave pattern of the H1 level is truncated. The currency pair trades in the range of 365 and 135 moving averages. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator signals overbought conditions.
USD/CAD rate online: monitor the price movement in real time.
Trading idea:
Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending truncated pattern.
Stop Loss: below the local minimum of the ascending pattern.
Target levels: 1.2320; 1.2290.
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