USD/CAD Traders Are Preparing For Longs

The USD/CAD is bouncing off the support and we should see an uptrend move. Will it be a swing or intraday we will know after today’s price action.

1.2705-1.2727 is the POC zone where we are looking at the price to continue moving up. We have a trend line support and D L4 camarilla support which adds up to long confirmation. Targets are 1.2780 and 1.2802 with 1.2836 as the final target. If the price breaks 1.2680 to the downside the setup will be invalidated.

(Click on image to enlarge)

 

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.