Long

USDCAD: Tight Range to Upside Expansion

Updated

USDCAD is trading in a tight range near 50% of the larger range as measured from the old high and old low. Price is also currently in the middle of the tight range. I am inclined to see USDCAD breakout from the range to the upside.

Note

Despite the DXY rally, USDCAD is being held in consolidation. Interesting, looks like it wants to spring up.

Note

Target 1 and target 2 reached. Final target I am looking at is the old High at 1.2964 level. Timing of the move is very close to my prediction.

Trade closed manually

Trade idea has been invalidated after the price action closed below the tight range. two of three targets hit.

DenisRisticFX

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