Overall view of USDCAD
1.32500 bottom level was reached after a sharp bear trend. Prices settled on a support zone and were subjected to a bull pressure. After a strong reversal signal on June 12th, the odds of a bull trend became higher.
Possible targets : @1.34310 (+0pips, already reached) and @1.35500 (+130 pips).
Advice : Stay bullish and buy at any low point while we don't break the support zone or 1.32500 bottom level.
Correlated pairs : EURUSD (-87.8%)
We are more likely to experience a strong bear spike with the EURUSD.
Possible targets : @1.34310 (+0pips, already reached) and @1.35500 (+130 pips).
Advice : Stay bullish and buy at any low point while we don't break the support zone or 1.32500 bottom level.
Correlated pairs : EURUSD (-87.8%)
We are more likely to experience a strong bear spike with the EURUSD.
Trade closed: stop reached
After the first target, markets were subjected to a sharp reversal that went way beyond the support zone, beginning a bearish run.
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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.