USD/CAD BUY - 02/11/2017
The Canadian dollar is now locked in the range between two levels: the support 1.2764 - 1.2777 and the local maximum/resistance 1.2911. Large volume is concentrated in this range, so the exit of the price from it will be a good signal for entering the market. Given the local uptrend and that the fall of the price was on small volume, we should give preference to long positions. A stop loss should be placed below the breakout bar. A potential of the growth is more than 100 pips.
The bottom line: long positions after the breakout of the local maximum.
The bottom line: long positions after the breakout of the local maximum.
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