The USD/CAD has formed a bullish zig-zag. We might see a continuation above 1.3240.

USDCAD

 

The price is trying to proceed above 1.3240 with some bullish candles marking the move. Resistance is close but if the price breaks 1.3260, we should see a continuation towards 1.3273 and 1.3310.  As long as the price is kept above 1.3169 we should see the uptrend intact. The final weekly target is 1.3382. See all those marubozu candles on the chart that justify the upmove.

USDCAD

 


 

The analysis has been done with the CAMMACD.MTF template.

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