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USD/CAD Bounce From The POC Zone Might Happen Soon

Nenad Kerkez
Updated

Hi traders,

The USD/CAD has reached the POC zone that stands around 4/8 MM and we might see a bounce soon. Pinbar points to now moment buyers.

When now moment buyers are aligned with historical buyers that stacks more odds into our favour when we make a trade. At this point, 1.3295-3305 should provide the bounce based on historical vs now moment buyers, order block and 4/8 MM confluence. The pair has formed a dragon-like pattern so watch for a bounce. Targets are 1.3366 and 1.3397. Above 1.3400 the doors is open towards 1.3427.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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This article was originally posted on FX Empire

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