Nenad Kerkez
Add to Bookmarks

The USD/CAD has formed inverted head and shoulder bullish pattern. The right shoulder has been formed, however the price could still retrace down before a possible bounce. At this point the price might go straight up (from 1.2943) or retrace exactly to POC then bounce. 1.2895-1.2915 is the POC zone so pay attention to it. Targets are 1.2990 – confluence of W H5 and M H3 camarilla pivots. This is a strong resistance zone and the pair needs a 4h close above 1.3000 to proceed further up. In that case, it could even target M H4 in upcoming days. As long as the pair is holding above 1.2800 it is bullish.

USD/CAD Bullish SHS Pattern for a bounce towards 1.3000 and above

W H3 -Weekly Camarilla Pivot (Weekly Interim Resistance)

Know where USD/CAD is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker