USD/CAD Bearish Continuation Only Below 1.3600

The USD/CAD has performed a bit bearish with a strong momentum down. At this point we see a consolidation.

If the price breaks below 1.3550 again we will see new sellers joining. However, 1.3600-20 zone needs to stay unscathed for that scenario to develop. Market has been very rangy and very hard to trade this week as there was lack of real trend momentum. Targets for bears are 1.3520 and 1.3486. If the price makes a close above 1.3620 then we might see 1.3665.

The Analysis has been done with the CAMMACD.Core and Sit Systems

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

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.