Time Frame : W1
From 09/04/17 till date USDCAD has been in a range between
1.20607 and 1.31146
Forming a supply and demand zones at 1.31140 – 1.29366 & 1.22381 – 1.20705 respectively
Two weeks ago price reversed at 0.5 fib ( middle of the range ) and we’ve had two candle closed above the fib forming higher highs, we should we another 100-280 pips push to the top of the supply zone in the next coming weeks.
We have Nfp data release this Friday. The outcome would
Give us a signal wether this weeks candle would create another higher high or reverse bearish to bottom of the zone ( demand).