USD/CAD is Bearish Below the Trend Line

February 01, 2018 14:30

Source: Admiral Markets MT5

The USD/CAD is showing signs of rejection below the trend line and below the D H1 camarilla but in order to see further bearish pressure it needs to break below the 1.2295. On my Real-Time Trading idea webinar I showed a clear zone for shorting and soon after the price dropped to 1.2297 and then it got back within the POC zone. At this point the price should either drop below 1.2295 or push higher. For a bearish continuation targets are 1.2285 and 1.2258. Spike above 1.2240 might turn the pair into bullish breakout targeting 1.2368.

D H3 - Daily Camarilla Pivot (Daily Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

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

Follow @TarantulaFX on twitter for latest market updates

Connect with Nenad Kerkez T on Facebook for latest market update

Read the Camarilla trading blog

Admirals An all-in-one solution for spending, investing, and managing your money

More than a broker, Admirals is a financial hub, offering a wide range of financial products and services. We make it possible to approach personal finance through an all-in-one solution for investing, spending, and managing money.