Home / Forex & Currency Exchange News / USD/CAD Uptrend Intact as long as 1.2325 holds

USD/CAD Uptrend Intact as long as 1.2325 holds

By Admiral Markets

The USD/CAD is in a strong uptrend. However traders need to pay attention to Trade balance data release today which measures the difference in value between imported and exported goods during the reported month. From the current standpoint 1.2455-70 is the POC zone ( PPC, W H4, ATR pivot, 14.6) and during strong trend 14.6 is known to reject the price. However on a deeper retracement that might happen after the news depending on the actual result, the USD/CAD could drop to POC2 (D L4, previous week’s high, EMA89, 38.2, W H3) 1.2370-95. Targets on a bounce are 1.2560 and 1.2630. 1.2325 needs to hold else the price might get back into the downward AP channel.

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly 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)

PPR – Progressive Polynomial Channel

AP -Andrew’s Pitchfork

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

Follow @TarantulaFX on twitter for latest market updates

Sign up for Live Trading Webinars with Nenad Kerkez T

Connect with Nenad Kerkez T on Facebook for latest market update

Article by Admiral Markets

Source: USD/CAD Uptrend Intact as long as 1.2325 holds


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

 

Click Here For Original Source Of The Article

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.

Check Also

Predictive Modeling is Calling for a Continued Rally

Predictive Modeling is Calling for a Continued Rally

By TheTechnicalTraders.com We are constantly amazed that our Advanced Dynamic Learning (ADL) price modeling system has been incredibly accurate over the past 7+ months.  Our researchers, at www.TheTechnicalTraders.com, called the early 2018 rally weeks in advance.  We called the resistance levels and top in late January.  We called a February 21~27 market top formation, called the market […]

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php