USD/CAD Ascending Channel but the Price is Ranging

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The USD/CAD is currently ranging within an ascending channel. We could see a dip then a move up.

The POC zone comes around 1.2650 and we could see a move to the upside. However, watch for the FOMC today. If the markets dips to the POC watch for a bounce. Above 1.2890 we should see a bullish move. The target then will be 1.3060.  Below 1.2550 watch for 1.2478 and 1.2341 as the price will turn bearish.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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