The USD/CAD has formed a bearish zi-zag with clear rejections as shown in the chart. If the price makes a pullback towards the POC zone, we might see another short selling pressure.
The POC zone 1.3190-1.3200 should provide a rejection if the price makes a retracement in the zone. At this point, the price is in the middle of nowhere, and the best is to wait patiently. The trend is bearish with multiple price points which create the Point Of Confluence. Targets are 1.3100 and 1.3070.
Only a break above the descending trendline could make bears lose the steam and put the pair into neutral territory.
For traders: our Portfolio of forex robots for automated trading has low risk and stable profit. You can try to test results of our forex ea download
Signal2forex reviews
Install your trader software at VPS server of one of the super fast providers:
Finance news
 Stock futures rise as market set to wrap up a wild week, Apple shares popStock futures rose early Friday, boosted by a jump in Apple shares, as Wall Street ... Read More  GDP grew at a 6.9% pace to close out 2021, stronger than expected despite omicron spreadThe U.S. economy grew at a much better-than-expected pace to end 2021 from sizeable boosts ... Read More  Stocks making the biggest moves premarket: McDonald’s, Blackstone, Netflix and othersCheck out the companies making headlines before the bell:Comcast (CMCSA) – The NBCUniversal and CNBC ... Read More |
