USD/CAD Possible 1.3564 if 1.3480 Holds

USD/CAD Possible 1.3564 if 1.3480 Holds

Dear Traders,

The USD/CAD has made a T-89 pattern within the concept of a bullish trend. We could see a bullish continuation. <!–more–>

If the price manages to reject from 1.3510-20 we should see a continuation towards 1.3528 and 1.3545. However, a close above 1.3545 is needed for the final target projection 1.3564. This bullish scenario is valid only if the price manages to hold above 1.3480.  Have in mind that the ATR (5) is 54 pips, so the pair is slower. If you take a look at the chart you will also notice a nice bullish zig-zag so pay attention to further bullish continuation.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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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.