USD/CAD 88.6 Zone Should Show Fresh Sellers

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

USD/CAD is in a retracement mode. We might see another drop from the POC zone.

The USD/CAD is going up as a part of a retracement. The price is still in downtrend. There should be a rejection from the zone once the price gets higher. 1.2847-57 is where sellers are expected. Targets are 1.2794, 1.2736 and 1.2690. Only if the market makes a bounce above 1.2876 we should see invalidation of this setup.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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