USD/CAD Rejection Happens After a Retracement

1 min read
tarantula fx

tarantula fx

Head of Trading

Dear traders,

The USD/CAD has formed a retracement pattern. There are two rejection points where we might see the drop from.

The first POC zone is exactly at 1.2770-80. The confluence of descending trendline 50.0 and D H3 camarilla resistance constitute the POC. If the price retraces higher, we should see 1.2810-20 and this is the final point where we could see the price rejection. Targets are 1.2741 and 1.2722.

The Analysis has been done with the Black Widow system.

Good trading,
Nenad Kerkez

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