USD/CAD A-B-C Triple Rejections Points as The Price is Bearish

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

USD/CAD is bearish and we should see the price making a breakout below M L4 support.

The POC zone 1.2620-60 is the point where the price could make a rejection. We have the bearish pressure exactly around the zone and we could go lower on a positive CAD momentum as CAD is in focus due to strong Friday’s Unemployment data release. Targets for the move are 1.2454 followed by 1.2320 and 1.2267.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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