USD/CAD - Upward Ranging Trend - Will Price Respect Boundaries?
For Educational Purposes Only.
Price is struggling to break through resistance up near the 1.3395 area.Although still in a nice range bound trend, it is becoming more choppy as counter trend movements begin to take over. I see accumulation near the Buy Zone listed in the graphic chart provided. This could possibly lead to another leg in the range upwards towards 1.3395. Stop would obviously have to be below recent swing lows, possibly a 2:1 Risk Reward on this one, as long as price doesn't close below 1.3305 or so, I am Bullish on this pair.
Mood: Bullish.
Price is struggling to break through resistance up near the 1.3395 area.Although still in a nice range bound trend, it is becoming more choppy as counter trend movements begin to take over. I see accumulation near the Buy Zone listed in the graphic chart provided. This could possibly lead to another leg in the range upwards towards 1.3395. Stop would obviously have to be below recent swing lows, possibly a 2:1 Risk Reward on this one, as long as price doesn't close below 1.3305 or so, I am Bullish on this pair.
Mood: Bullish.
