USD/CAD Ascending Channel but the Price is Ranging

The POC zone comes around 1.2650 and we could see a move to the upside. However, watch for the FOMC today. If the markets dips to the POC watch for a bounce. Above 1.2890 we should see a bullish move. The target then will be 1.3060. Below 1.2550 watch for 1.2478 and 1.2341 as the price will turn bearish.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.