Home USD/CAD Technical Analysis: Elliot Wave patterns can send Greenback to 1.3200 figure as bulls are jumping out of longs

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USD/CAD Technical Analysis: Elliot Wave patterns can send Greenback to 1.3200 figure as bulls are jumping out of longs

FX Street

Published date: 21 Nov. 2018 | 18:19

USD/CAD daily chart

USD/CAD is trading in a bull trend above the 200-day simple moving average.
USD/CAD printed a 5-wave Elliot pattern which can potentially USD.CAD down to 1.3200 figure.

USD/CAD 4-hour chart

Technical indicators are losing bullishness suggesting a deeper pullback.

USD/CAD 30-minute chart

The level to beat for bull is 1.3320 resistance.
Bears broke below the 50 SMA as indicators are decelerating.
USD/CAD formed also fomed a 5-wave pattern on the 30-minute chart.

Additional key levels at a glance:

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