USDCAD bullish zigzag endangered

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The USDCAD is still in uptrend but the recent bounce in gold prices and Canadian core retail sales with unexpected rate hold have endangered the bullish zigzag. Technically we could see a deeper retracement towards POC and we can see that 2 way trading with USDCAD is possible. Generally speaking the pair is still uptrend but we need to pay attention to 2 POCs. The first POC is SHORT POC (WPP,H3,Double Top) within 1.4300-20. Any rejection from the zone could lead to 1.4100 retest and further

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