USDCAD analysis 03.07.2020

Analysis based on round-number levels, price channels and modified Elliot Waves

USDCAD

A descending truncated H2 level pattern is forming, probably a wave (B) of the ascending H8 level pattern. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator indicates an oversold condition.

USDCAD rate online: monitor the price movement in real time.

Trading recommendations:

Buy when an ascending pattern is formed, where wave (aC) breaks through the inclined channel of the descending truncated H2 level pattern.

Stop Loss below the local minimum (1.3543)

Target levels: 1.3700; 1.3768.