USDCAD buy zone
Updated
Entry range: 1.2440 - 1.2460
TP range: 1.2590 - 1.2620
USDCAD drop due to oil hike.
A significant selling volume suggests bears may be losing momentum OR have cashed out enough shorts.
A bullish USD may resume regaining lost territory on USDCAD.
A support and resistance zone depicted on almost a month's range suggests a bounce or correction of USDCAD. In the event of a very bullish USD based on the developments in the next few days on the grounds of FOMC updates, we're looking at a breach of 1.2660 range.
MACD sell volume recovering back up. RSI pattern on oversold.
TP range: 1.2590 - 1.2620
USDCAD drop due to oil hike.
A significant selling volume suggests bears may be losing momentum OR have cashed out enough shorts.
A bullish USD may resume regaining lost territory on USDCAD.
A support and resistance zone depicted on almost a month's range suggests a bounce or correction of USDCAD. In the event of a very bullish USD based on the developments in the next few days on the grounds of FOMC updates, we're looking at a breach of 1.2660 range.
MACD sell volume recovering back up. RSI pattern on oversold.
Trade closed: target reached
Initial target reached.Secondary target also reached.
Total 380 pips.
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