Elliottwave Analysis: USDCAD, buy at 1.3170

Yue Wang LinoCapital

USDCAD consolidated in a narrow range.

According to Algo Trader System, both short term and long term trend point up, price also close above upper bands on H4 timeframe.

It should be a potential medium term buy signal.

On daily chart, price already break out the long term downtrend line.

We'll try a tactical long here, add when medium term trend point up.

Daily support levels: 1.3163 1.3132 1.3107

Daily resistance levels: 1.3223 1.3250 1.3278

USDCAD Trade Idea: (Spot 1.3210)

Buy Limit @ 1.3170 SL 1.3100 Take Profit @ 1.3405

Intraday Trade Idea:

Sell Latentinterest Order: 1.3316

Buy Latentinterest Order: 1.3132

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Author

Yue Wang

LinoCapital

Master's Degree in Hepatobiliary Surgery. 

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