Tuesday, December 2, 2014

Usdcad Intra day Update

On 20th November,I forecast a bullish move out of the intra day correction ( a tripple zigzag corrective pattern) and I mentioned 1.2700 and 1.2850 to be the new resistive zone if the recent upward move is genuine. 

The dip in Oil price further attest to the bullish move of the Usdcad.

I posted an update on 27th November as I watched the corrective pattern broken upside, and not long after the analysis, price moved high . 

I didn't place a trade due to the fact that I was expecting a correction to 1.1310 as I included in the analysis.

Presently, after a straight move upside, price has retraced to the level I mentioned and I place a buy order as I expect price to move all the way to 1.2700-1.2800.



I will post an update later.

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