Canadian Dollar Futures Monthly Chart Bullish Bias
10/18/21
Looking at Current Market Price Action, on the Monthly Time Frame We can see that the Canadian Dollar Futures is painting a bullish recovery over the past 2 months
Finding support at the 0.77500 level we can see that the price action of August and September rejected that level very quickly, also we have a great level of confluence in that zone with the 2020 highs.
Also we find that we have ran through not only 2020 highs but 2019 highs as well and we matched 2017 highs with the run in the first quarter of this year.
Looking at all this data we can see that price has a willingness to trade higher and will most likely make its way to the 0.87500 level as the next major level in the next 6-12 months.
10/18/21
Looking at Current Market Price Action, on the Monthly Time Frame We can see that the Canadian Dollar Futures is painting a bullish recovery over the past 2 months
Finding support at the 0.77500 level we can see that the price action of August and September rejected that level very quickly, also we have a great level of confluence in that zone with the 2020 highs.
Also we find that we have ran through not only 2020 highs but 2019 highs as well and we matched 2017 highs with the run in the first quarter of this year.
Looking at all this data we can see that price has a willingness to trade higher and will most likely make its way to the 0.87500 level as the next major level in the next 6-12 months.