USDCAD – Buyers at very good position

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USDCAD – Buyers at very good position

Trend: Buy/ Neutral

Support/Resistance:
R3: 1.32490
R2: 1.31750
R1: 1.31150
S1: 1.30471
S2: 1.30000
S3: 1.29500

Price action:
In this case we can see potencial buyers bounce, which can be used as a one more fact to go bullish on usdcad currency pair. Because Elite bullish trading idea is still on bearish side we have to be carefull and play on sellers fails that might happen later in this case. USDCAD currency pair have potencial buy if the price will bounce from first support level at 1.30630. Plus more usd currency is at strong momentum from overall usd index.


Potencial trade idea:

Bulls targets:
T1: 1.31150
T2: 1.31750
T3: 1.32490

Bears targets:
T1: 1.30000

NOTE – We are trading USDCAD via the preferred trading setups by EliteFxAcademy


Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.


Keywords:
Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education

Good trading!

Elitefxacademy