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USD/CAD Upside Breakout as Expected

Nenad Kerkez
Updated

The USD/CAD is making a strong bullish breakout as expected. The setup was presented live on Weekly Trading Recap webinar and the price went exactly as expected. At this point we see a strong upside break after the inverted head and shoulders pattern. This was expected as USD/CAD had a bullish consolidation prior to bullish breakout. 1.2880-1.2910 is the zone for buyers while 1.3070-.1.3100 is the zone for sellers. Watch the price and trade accordingly.

USD/CAD Upside Breakout as Expected
USD/CAD Upside Breakout as Expected

Source: Admiral Markets MT5 with MT5SE Add-on

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

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W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

M H4 – Monthly Camarilla Pivot (Very Strong Monthly Resistance)

M L3 – Monthly Camarilla Pivot (Monthly Support)

M L4 – Monthly H4 Camarilla (Very Strong Monthly Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

Best wishes,

Nenad

Follow Admiral Markets on Facebook – @AdmiralMarkets on Twitter – for the latest market updates.

This article was originally posted on FX Empire

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