k.archdoan
Long

USDCAD WILL CONTINUE BULLISH MOVE

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hello Traders,
Here is very nice set up of USDCAD for multiple reasons.
USDCAD started bullish move finally, it made only one bearish candle at demand zone rejection (lower green slab) which show very strong bullish move. Had it been weak up trend then USDCAD must have been rejected 50--60 pips from lower demand zone .
USDCAD rejected by supply zone at 1.3315---1.3330 with very strong bearish candle which indicated then USDCAD will fall. But what happened USDCAD rejected further, this time not by supply zone but demand zone at 1.3230--1.3250. This rejection was very strong because candle did not dare to close inside demand zone which is further indication of strong up trend.
Prediction:
I am expecting USDCAD to move up either straight upward or strong rejection from upper demand zone 1.3230--1.3250.
It will cross 1.3330 zone without hesitation and will move further up. It is expected that USDCAD will fall till supply zone 1.3315---1.3330, after rejection from 1.3315---1.3330, it will move gradually towards its target i.e.1.3500
SIGNAL
USDCAD
BUY @ CMP OR BUY LIMIT 1.3250
STOP LOSS 1.3150
PROFIT 1.3500
RR= 2.4

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