USDCAD: Tight Range to Upside Expansion

USDCAD is trading in a tight range near 50% of the larger range as measured from the old high and old low. Price is also currently in the middle of the tight range. I am inclined to see USDCAD breakout from the range to the upside.

Kommentar:

Despite the DXY rally, USDCAD is being held in consolidation. Interesting, looks like it wants to spring up.

Kommentar:

Target 1 and target 2 reached. Final target I am looking at is the old High at 1.2964 level. Timing of the move is very close to my prediction.

Trade wurde manuell geschlossen:

Trade idea has been invalidated after the price action closed below the tight range. two of three targets hit.