USD/CAD Bullish Bounce Targeting 1.3250 and Above

Dear Traders,

The USD/CAD is in uptrend. We can see the two POC zones acting as support. W L3 is also providing a confluence to bullish outlook.

1.3200-10 is the first while 1.3150-65 is the second POC zone. A bounce off any POC zone should provide upside continuation towards 1.3238 and 1.3254. If we see the price higher than 1.3254 then the next level is 1.3280. Pay attention to the first POC zone as we also see W L3 and order block, acting as additional confluence support for a bullish bounce.

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

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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.