Hello traders,
let’s see what the charts have for us:
1. USD/CAD
USD/CAD buyers have spent almost 6 days, trying to break the resistance zone and 200 moving average.
At the close of today’s daily candlestick, I believe we will be out of the woodworks, and buyers will be encouraged to join the trend to 1st PRZ.
Mind you, there will be FOMC meeting by 7pm tomorrow. So, if you decide to trade it, you may also plan your exit before the news hour
2. GBP/CAD
Key resistance zone breakout can be spotted on the GBP/CAD. Also the higher lows and higher highs formed suggests that the bulls are out on rampage, and our next possible resistance level is most likely going to be 1.73320
The only down side to this setup, is the CPI news on GBP first thing tomorrow morning.
What say you?
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