USD/CAD bulls eye 1.3700
A strong bullish trend has developed on the 1-hour chart of USD/CAD, which is underscored by its timely yet shallow retracements. It's found support along the 10-bar EMA to show bullish momentum is increasing and the OBV (on balance volume) is trending higher with prices.
A retracement has also found support around the weekly R1 pivot and the high of a prior bullish engulfing candle, whilst holding above the daily pivot point.
The bias is bullish above the daily pivot and for a rally towards 1.3700, with the daily R1` and weekly R2 pivot providing potential targets for bulls just below 1.3700.
A retracement has also found support around the weekly R1 pivot and the high of a prior bullish engulfing candle, whilst holding above the daily pivot point.
The bias is bullish above the daily pivot and for a rally towards 1.3700, with the daily R1` and weekly R2 pivot providing potential targets for bulls just below 1.3700.
Related publications
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.