LD3K

Long until the 1.24000 zone

FX:USDCAD   U.S. Dollar/Canadian Dollar
Currently seeing a retracement in PA following a breakout of a long-term rectangle pattern, shorter term descending triangle pattern. Looking for a retracement back into the 1.24000 SR zone (strong weekly and daily SR area), which would not only see a retest of the breakout resistance area but would also test the 50/61.8% fib levels. An ABCD pattern would put the PA down into previous weekly S&R levels as well as retesting the long term trend line .

It will be interesting to see if the PA does retrace to hitting the long term trend line around the time of second week of May. That week holds a lot of economic releases, including the non-farm payroll employment figures.
attractive.
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