Expecting to see that continued trend for UCAD as it approaches the resistance zone if it manages to break that zone and continue the uptrend then we can expect resistance at 1.4200 with possible retracement down to 1.4100 if it manages to return to the channel then it may consolidate in the zone until either pushing back to 1.4200 or breaking the month long support to head to 1.3800
Trade closed: target reached:
Did not hit the Resistance zone and ended up retracing last weeks move in its entirety due to weakening of the USD. Stayed within the channel until it broke the support zone and dove to new support at 1.39. May see a complete reversal into tomorrow so expecting to see that Long play out with possible heading to a tighter channel in the short term and a breakout up to try again at that 1.42 zone