The USD/CAD has spiked from Weekly L3 support straight to D H4 breakout target leaving a V shaped reversal pattern behind it. If retracement happens watch for 1.3520-35 POC ( D H3, V shaped reversal top/order block, ATR Pivot) and rejection from the zone. If we don’t see any retracement, then a direct spike from D H4/ W H3 could be possible – 1.3559 towards 1.3610. Have in mind that ATR has already been completed and that an overshot of ATR range could bring the pair up to 1.3610 – D H5. This is the indication of strong uptrend.
