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USD/CAD Upside Breakout as Expected

May 08, 2018 10:54

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.

Source: Admiral Markets MT5 with MT5SE Add-on

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

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

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This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.