FBS - Analytics


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    USD/CAD: sell targets – 1.2930 and 1.2850

    • USD/CAD falling inside impulse waves 5 and (C)
    • Next sell targets – 1.2930 and 1.2850

    USD/CAD recently reversed down from the resistance zone lying between the resistance level 1.3250 and the 38.2% Fibonacci correction of the previous sharp minor impulse wave 3 from the end of February. The downward reversal from this resistance zone started the active minor impulse wave 5 which belongs to the intermediate wave (C) of the primary ABC correction ② from the middle of January.

    USD/CAD is likely to fall further in the active impulse waves 5 and (C) toward the next sell target at the support level 1.2930 (low of the previous impulse wave 3) – the breakout of this can lead to further losses toward the stronger support level 1.2850 (low of wave (4) from October).

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