USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
USD/CAD reversed from support zone
2019-11-11 • Updated
- USD/CAD reversed from support zone
- Next buy target - 1.3400
USD/CAD continues to rise sharply after the earlier upward reversal from the support zone lying between the support levels 1.3260 and 1.3220. This support zone was further strengthened by the lower daily Bollinger Band. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Long-Legged Doji (which marked the end of the previous minor ABC correction 2). USD/CAD is expected to rise to the next buy target at the next resistance level 1.3400 (former strong support level from May).
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