Although we are ultimately super bullish on USDCAD, and believe USDCAD will reach monthly extreme highs at some point in the long term/year future, the pair has now tapped into a serious weekly resistance zone. The zone's upper bound is about 60 pips higher from current price, so there is still some little room to the upside the the pair can get into.
For those looking for shorts; 1.3000 price (found with the zone) is a good area to open shorts, with stops slightly higher the upper bound of zone.
From our side, we will sit the expected pullback out, and wait for a renewed bullish leg.
Thank you. Trade smartly.
For those looking for shorts; 1.3000 price (found with the zone) is a good area to open shorts, with stops slightly higher the upper bound of zone.
From our side, we will sit the expected pullback out, and wait for a renewed bullish leg.
Thank you. Trade smartly.
