USDCAD - Bullish Bias with 1.3420 as Target
Price developed a strong impulsive reversal from the 1.2927 low and has since been developing as a corrective structure.
Price has also retested the 50% fib area around 1.3049.
We are expecting price to break out impulsively from here next week with a potential target at the previous high at 1.3420, forming a 3 wave structure to the upside.
Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
Price has also retested the 50% fib area around 1.3049.
We are expecting price to break out impulsively from here next week with a potential target at the previous high at 1.3420, forming a 3 wave structure to the upside.
Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
Penafian
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