USD/CAD Countertrend Move is W L5 Stays StrongThe USD/CAD is showing now moment buyers exactly at the POC zone. 1.3090-1.3100. We might see a countertrend move.
If the W L5 stays strong we should see a countertrend move towards 1.3151, 1.3155 and 1.3200. However for this scenario to be valid, buyers must remain in control above the POC zone. Have in mind that the USD/CAD is generally bearish and this could be a counter trend trading opportunity. If W L5 breaks and the price closes below, we will see a bearish continuation.
The analysis has been done with the CAMMACD.core 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