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DenisRisticFX

USDCAD: Tight Range to Upside Expansion

Long
U.S. Dollar / Canadian Dollar (FOREXCOM:USDCAD)  
DenisRisticFX Updated   
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns USDCAD
3
2
trendanalysis chartpattern usdcad
USDCAD is trading in a tight range near 50% of the larger range as measured from the old high and old low. Price is also currently in the middle of the tight range. I am inclined to see USDCAD breakout from the range to the upside.
Comment:
Despite the DXY rally, USDCAD is being held in consolidation. Interesting, looks like it wants to spring up.
Comment:
Target 1 and target 2 reached. Final target I am looking at is the old High at 1.2964 level. Timing of the move is very close to my prediction.
Trade closed manually:
Trade idea has been invalidated after the price action closed below the tight range. two of three targets hit.
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