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T3-Consultancy

USDCAD M30: Bullish outlook seen, further upside above 1.33000

Long
U.S. Dollar / Canadian Dollar (FOREXCOM:USDCAD)  
T3-Consultancy  
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
Harmonic Patterns Trend Analysis Chart Patterns USDCAD USD CAD usdcadlong usdcadshort Forex forextrading forexsignals
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harmonicpatterns trendanalysis chartpattern usdcad usd cad usdcadlong usdcadshort forex forextrading forexsignals
On the M30 time frame, a throwback to the support zone at 1.33000, in line with the Fibonacci confluence levels presents an opportunity to play the bounce with 1.33900 as the resistance target. The 1.33900 resistance zone coincides with the graphical support-turned-resistance zone and 50% Fibonacci retracement. Failure to hold above the 1.33000 support zone could see prices push lower to the next support zone at 1.32500. Prices are holding above the Ichimoku cloud as well, supporting the bullish bias.
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