Advertisement
Advertisement

USD/CAD Bullish Consolidation Before Bounce

By:
Nenad Kerkez
Updated: Oct 31, 2018, 09:54 UTC

The USD/CAD is consolidating in the upper part of the chart precisely above W L3 camarilla pivot and 5/8 Murrey Math. This indicates a bullish pressure

Cad

The USD/CAD is consolidating in the upper part of the chart precisely above W L3 camarilla pivot and 5/8 Murrey Math.

This indicates a bullish pressure that will be materialized if the price closes above 1.3153 W H3 and 7/8 confluence. Look for continuation above towards 1.3214 if that happens. If we see a pullback look for 1.3060-90 zone rejection towards 1.3153 and 1.3214. Only if the price closes below 1.3030, bulls will lose steam and the price might get a deeper pullback. At this point its all bullish.

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

Did you find this article useful?

Advertisement