USD/CAD Bullish Consolidation Before Bounce
Our preference: long positions above 1.3100 with targets at 1.3145 & 1.3160 in extension.Alternative scenario: below 1.3100 look for further downside with 1.3080 & 1.3060 as targets.
Comment:
The USD/CAD is consolidating in the upper part of the chart precisely above W L3 camarilla pivot and 5/8 Murrey Math.
materialized if the price closes above 1.3153 W H3 and 7/8 confluence.
Look for continuation above towards 1.3214 if that happens.
If we see a pullback look for 1.3060-90 zone rejection towards 1.3153 and 1.3214. Only if the price closes below 1.3030, bulls will lose steam and the price might get a deeper pullback. At this point its all bullish.