USDCAD Potential Breakout to 1.33 Levels? ~ Probability: High

Long

U.S. Dollar / Canadian Dollar (FX:USDCAD)

Updated

FX:USDCAD U.S. Dollar / Canadian Dollar

trendanalysis waveanalysis usdcad canadian cad usd analysis breakdown prediction range probability

After moving sideways for the past couple days, finally momentum has increased and a potential breakout back to 1.33 levels are probable. Otherwise a heavy rejection from the Orange range will continue to pull us further downwards following the Red Arrow to the lower 1.32350 support.

Comment:

I have closed the initial trade due to the pullback from the Orange range. Trade Closed at 1.32745, 345+ pips. Usually I would continue to hold however, I am going to sleep soon and do not hold trades overnight. Overall, I am furthering my pattern recognition daily and will monitor the price action in the early morning.
~ Cheers

Comment:

Seems like we have broken through the Orange range but are hovering right below the 1.33 psychological resistance.

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