USD/CAD Progressive Zig-Zag Possibly Targeting 1.3055

2 min read
tarantula fx

tarantula fx

Head of Trading

The USD/CAD has been in a progressive zigzag uptrend pattern. The price has made higher highs and next higher high could be expected after a pullback

1.2940-50 is a POC zone where we might see a bounce. There is a bit of confluence that makes the zone valid and traders should be paying attention to it. A bounce from the zone should target 1.3000 and 1.3040-1.3055. A strong close above 1.3040-55 will suggest a continuation towards 1.3085. A close below 1.2900 will invalidate current bullish momentum.

Good trading,
Nenad Kerkez aka Tarantula FX

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