The USD/CAD has formed a new bullish trend on 4h timeframe. At this point it seems that we will see a continuation towards higher levels.
1.3150-60 is the POC zone. The Marubozu candle has been formed exactly at the W H5 and there were no rejections there. Additionally, new Wizz levels have been shown so the price is effectively bullish as new trend has been formed. Targets are 1.3206 and 1.3227. Only a drop below 1.3080 can provide bearish with the hope that bearish trend will resume. At this point, the POC zone is confirmed and we should see upside price action.
The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX