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USD/CAD is Bearish Below the Trend Line

By Admiral Markets

Source: Admiral Markets MT5

The USD/CAD is showing signs of rejection below the trend line and below the D H1 camarilla but in order to see further bearish pressure it needs to break below the 1.2295. On my Real-Time Trading idea webinar I showed a clear zone for shorting and soon after the price dropped to 1.2297 and then it got back within the POC zone. At this point the price should either drop below 1.2295 or push higher. For a bearish continuation targets are 1.2285 and 1.2258. Spike above 1.2240 might turn the pair into bullish breakout targeting 1.2368.

D H3 – Daily Camarilla Pivot (Daily Resistance)

D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

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Article by Admiral Markets

Source: USD/CAD is Bearish Below the Trend Line


Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.

 

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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