USD/CAD Trade idea

• Pattern Formed – Bullish Gartley Pattern
   
• Potential Reversal Zone (PRZ) -1.3100
   
• The pair declined drastically previous week after making a temporary top around 1.33069.It is currently trading around 1.31448.
   
• Loonie has taken support near 1.3100 and slightly recovered from that level. The potential reversal zone is 1.3100 and any break below that level will drag the pair to next level till 1.30480/1.3000.
   
• On the higher side, any break above 1.3185 (100- 4H MA) will take the pair to next level  1.3215 (50- 4H MA)/1.328/1.3300.

It is good to buy on dips around 1.3100 with SL around 1.30480 for the TP of 1.3185/1.3280.

Resistance

R1-1.3185

 

R2-1.3250

 

R3-1.3280

 

Support               

 

S1-1.3100

 

S2-1.30480

 

S3-1.3000