USDCAD Rooftop variant for next POC

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The USDCAD has faced a rooftop pattern and currently it sits at support near the lower pattern support. The pair gravitates towards POC (rooftop bottom,50.0, ascending trend line, historical buyers) which is 1.3650-65 and we could see a bounce from the zone. If the pair breaks the zone to the downside we could see a dip towards 1.3620 (L3,61.8,DPP). The bounce could trigger next rally towards yesterday’s highs 1.3780. Pay attention to possible rejections within these 2 POCs.

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