USDCAD Potential Breakout to 1.33 Levels? ~ Probability: High
After moving sideways for the past couple days, finally momentum has increased and a potential breakout back to 1.33 levels are probable. Otherwise a heavy rejection from the Orange range will continue to pull us further downwards following the Red Arrow to the lower 1.32350 support.
Note
I have closed the initial trade due to the pullback from the Orange range. Trade Closed at 1.32745, 345+ pips. Usually I would continue to hold however, I am going to sleep soon and do not hold trades overnight. Overall, I am furthering my pattern recognition daily and will monitor the price action in the early morning. ~ Cheers
Note
Seems like we have broken through the Orange range but are hovering right below the 1.33 psychological resistance.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.