UsdCad- Break above resistance next?
After the low from mid-July, UsdCad has started to reverse and after the small correction from last week, last Friday was also marked by an immense Bullish Engulfing from short-term support which led the pair into the resistance zone again.
The structure from the low is strongly bullish and I believe this resistance will fall sooner rather than later.
I'm very bullish UsdCad as long as 1.35 is intact and a break above the 1.3650 zone could lead to acceleration to the upside and expose the 1.3850 zone.
In conclusion, my strategy is to buy dips under 1.36 in search of a good risk: reward considering the levels that I mentioned.
The structure from the low is strongly bullish and I believe this resistance will fall sooner rather than later.
I'm very bullish UsdCad as long as 1.35 is intact and a break above the 1.3650 zone could lead to acceleration to the upside and expose the 1.3850 zone.
In conclusion, my strategy is to buy dips under 1.36 in search of a good risk: reward considering the levels that I mentioned.
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