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USD/CAD Further Uptrend As Buying The Dip Continues

Nenad Kerkez

Dear Traders,

The USD/CAD is still bullish as shown in the previous analysis too. At this point we need to wait for a drop then to possibly go long on 1-2-3 pattern.

The pair might have a retracement close to the ATR support around 1.3265-75. If that happens look for 1-2-3 breakout which will bring the fresh buyers in play. Targets for the move are 1.3300 and 1.3333. Have in mind that as long as the price is above the channel we will see an uptrend continuation. The ATR(5) is only 33 pips, indicating stable and slow market conditions. Any move above 33 pips this week will mean a raise in the volatility of the pair.

The Analysis has been done with the CAMMACD.Core and Sit Systems

 

This article was originally posted on FX Empire

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