USDCAD - Squeezing to resistance can lead to a breakout
Updated
USDCAD has been forming consolidation after the reversal for quite a long time. The area of 1.31500 is the bottom in the current market and an area of liquidity that continues to feed the bullish trend.
It is worth paying attention to the price compression towards 1.3600. There is a high probability of a breakout formation with the subsequent realization and distribution of the accumulated potential.
The target in this case could be 1.37-1.38.
It is worth paying attention to the price compression towards 1.3600. There is a high probability of a breakout formation with the subsequent realization and distribution of the accumulated potential.
The target in this case could be 1.37-1.38.
Trade closed: target reached
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