06.05.2020
An ascending H2 level pattern has formed on the chart. The wave (A H2?) broke through the inclined channel of the descending pattern, the expected correction (on H2) tested 50% on fibo and the price pivot zone of 1.4000. A breakout of 1.4078 will result in the formation of an ascending pattern within the wave C of the H2 level. Stochastic Oscillator also showed an exit from the oversold zone.
Trading recommendations:
Buy above 1.4078.
Stop loss: 1.4000.
Target levels: 1.4150; 1.4262.
If the price drops to the 1.4000 level, cancel the trading plan.
The USDCAD rate online: monitor the movement of the pair in real time.
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