Canada Markets close in 36 mins

USD/CAD Bullish Range Play With a Potential for 1.3690

Nenad Kerkez

Hi traders,

The USD/CAD has been unscathed by the huge FX flash crash during low liquidity in early Asian trade. Seems like accumulation phase now before the mark up.

Amidst huge YEN buying and massive AUD selling during early Asia market, the USD/CAD has been virtually unchanged. There was no stop triggering here. Ascending trend line, price above W L3, a rejection from the ATR low suggest a possible trend resumption from the 1.3605-15 zone. Targets are 1.3655 and 1.3690. However, the price should ideally stay above 1.3580 for uptrend to persist. If it drops below, we might see a bigger correction.

{alt}

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea


This article was originally posted on FX Empire

More From FXEMPIRE: