The USD/CAD has formed a consolidation triangle within the boundaries of W L4 support. We can even spot a bullish divergence at the bottom. Breakout might happen at the breakout of 1.3060-70 zone towards 1.3095-1.3114. If the price gets there it will either bounce or continue further up. Above 1.3115 we could see 1.3145.
If there is no breakout look for a break below 1.3040 towards 1.3008.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
