USD/CAD Price Analysis: Bulls finally catching a break?

0

In what has been a gruelling sideways chop, the price is finally making a more of a decisive move to the upside against a bullish backdrop on the longer-term time frames. 

At the time of writing, USD/CAD is trading at the highest level since September 11th and testing the 1.32 area with a high of 1.3206.

The following offers a bullish bias and offers yet another opportunity to take advantage of a bullish environment on the 4Hr time frame to catch what is expected to be a bullish wave and completion of a bullish reverse head and shoulders.

Starting with the prior 4Hr analysis from an earlier article, that can be read here USD/CAD continues to tread dynamic trendline support, bulls eye 1.33 area, the bulls have bust out from the resistance:

A buy limit order can now be placed at 1.3181 support structure with a stop at 1.3142.

Get the 5 most predictable currency pairs

About Author