USD/CAD Bears are Still in Charge

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The USD/CAD remains under bearish pressure. We should see another drop after the retracement.

If the price retraces to the 78.6-88.6 zone, it’s where the sellers are and we might see another move lower. The POC zone 1.3068-1.3078 additionally is showing the W H3 camarilla resistance and historical sellers. From that zone we should see a drop towards 1.3022, 1.2990 and 1.2969. If the price doesn’t retrace higher watch for a straight drop towards 1.2969.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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