USDCAD – Current Trade Up +285 Pips, Price Action Bullish | Dec 10th
USDCAD – Buy Trade Up +285 Pips, Bullish Bias (daily chart)
The second trade from my most recent live trade video was on the USDCAD. I felt the price action context was bullish and expected the bull trend to continue.
That sentiment was correct as the pair is now up well over +285 pips at the moment. Notice the large 2 day breakout that led to a brief consolidation (with trend pin bar). Since then, the pair has run higher and taken out the recent ST highs near 1.3615.
My target right now is 1.38, however I may lift the limit and go for 1.3950 (May 2004 highs). which is just below the ‘big figure‘. For now, I’m remaining bullish and will keep this bias as long as it holds above 1.34 on a daily closing basis.
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