USDCAD- look for retracement in the zone 1.2750—1.2700

FX:USDCAD   U.S. Dollar / Canadian Dollar
95 2 6
USDCAD- look for retracement in the zone 1.2750—1.2700
Once the rising trendline gets broken or prices start moving below 1.2850…look for down …up (to touch the rising trendline & get resistance & fall again to complete the correction in that case my 1st wave is done from the lows of 1.2460 to 1.2951. The running correction shall be pull back wave for even larger up move beyond 1.2951.
I shall be looking for the zone 1.2700—1.2750 as the support zone & once we get bullish confirmation in that zone, we shall look for buying USDCAD             for new highs above 1.2951.
Markets are very dynamic & need to analyse every moment- so kindly click like button for me to put more efforts & become market detective –which can help traders to see the path of the instrument & trade wisely not blindly.
Abhishek             H.Singh, CMT

Comment: For any weakness to happen or taking short position shall be advisable only if the pair breaks rising trendline...or going below 1.2850 as suggested in the update.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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0.5 area is 1.2760 ..guess that could be support but market dynamics are very tough ...have to be on toes every moment.
1.27500 is the 0.382 if hold more long coming if not maybe go to 0.5 area at 1.21600
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