USDCAD bounced from Support and can continue higher

30 Tem

Looking at the chart and the overall structure, I think we can favor the continuation setup with a emphasis on price action at key zones, particularly when price breaks out then can revisit this structure for a retest.

This bounce off support has been accomplished in my previous analysis:

Here, if price breaks with strength and dips back into the area and holds with bullish confirmation (likely a wick rejection or bullish engulfing on lower timeframes), that would be the cue to get in.

I am projecting the next target to 1.38600 that makes sense as a logical level for trend continuation and that I find achievable.

31 Tem

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