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USD/CAD Potential Rejection at W L3

By
Nenad Kerkez
Published: Sep 24, 2018, 14:37 GMT+00:00

>> The USD/CAD downtrend is still intact. At this point we might see some buying before another rejection at W L3.<< Confluence at W L3 and M

USD/CAD Potential Rejection at W L3

>> The USD/CAD downtrend is still intact. At this point we might see some buying before another rejection at W L3.<<

Confluence at W L3 and M L3 pivot point 1.2960-70 might reject the price after a retracement. We can see an ascending trend line that has been broken and retested and the price is bearish. M L4 triple bottom needs to be broken in order for the price to drop below. The target is 1.2807, weekly L5 pivot.

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.

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