Friday, October 16, 2026

Technicals

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FxWirePro:USD/CAD forms Bullish BAT Pattern, good to buy on dips

Pattern Formed – Bullish Bat pattern Potential Reversal Zone -1.3000 The pair has formed Bullish BAT Pattern in the hourly chart and any slight weakness can be seen only below 1.3000 level. Loonie made a low of 1.30532 a…

By FxWirePro Team
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FxWirePro:USD/CAD forms Bullish BAT Pattern, good to buy on dips
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  • Pattern Formed – Bullish Bat pattern
     
  • Potential Reversal Zone -1.3000
     
  • The pair has formed Bullish BAT Pattern in the hourly chart and any slight weakness can be seen only below 1.3000 level.
     
  • Loonie made a low of 1.30532 at the time of writing and jumped slightly from that level. It is currently trading around 1.30853.
     
  • On the lower side any break PRZ will drag the pair down till 1.29000 (161.8% retracement of 1.30186 and 1.33875)/1.28225.
     
  • The next immediate resistance is around 1.3107 (hourly Kijun-Sen) and any break above will take the pair till 1.3168 (110 – H EMA)/1.320 (200- H MA).

    It is good to buy on dips around 1.3055 with SL around 1.3000 for the TP of 1.3145

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By FxWirePro Team