HomeContributorsTechnical AnalysisUSD/CAD Potential Bounce On A Super-Dot

USD/CAD Potential Bounce On A Super-Dot

The USD/CAD has formed a super-dot within 1.3050 zone. The super-dot ™ is an extreme for the price and usually its followed by a reversal as a countertrend or a continuation in a trend.

This time the super-dot signals for a potential reversal from 1.3050. It seems that bearish trend came to a stall and oversold reading on the pair will induce profit taking. Targets are 1.3092, 1.3318 and 1.3150. However, 1.3000 needs to stay strong for this to happen. A close above 1.3150 might induce a bullish continuation move towards 1.3225. Only below 1.3000 the pair will be bearish.

Elite CurrenSea
Elite CurrenSeahttps://www.elitecurrensea.com/
Elite CurrenSea Accessible Forex Trading Systems & Education With over 30 years of combined trading experience, we design, test, and provide successful Forex, CFDs & Crypto trading systems and solutions for retail and institutional traders alike.

Featured Analysis

Learn Forex Trading