Overall view of USDCAD
Updated
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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