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USD/CAD is Bearish Below W H3 Camarilla Pivot

Nenad Kerkez

Dear Traders,

The USD/CAD has been consolidating within the zonal support straight at W L3 camarilla pivot. Watch for POC rejection.

If the price rejects from 1.3106-1.3120 zone it should do with a nice bearish reversal candlestick or pattern. Then we should see a continuation of bearish trend towards 1.3055. Break of 1.3055 aims for 1.3030 and eventually 1.2955 on a stronger bearish momentum. Have in mind that for this scenario to be valid, the pair needs to stay ideally below 1.3140. A close above might make a deeper retracement towards 1.3180.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

This article was originally posted on FX Empire

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