ForeCastle

D1 price is located to be above yearly Central Pivot at 1.3157 for the primary bullish market condition:

• The price is on ranging within Central PP at 1.3157 and R1 Pivot at 1.4670;
• Ascending triangle pattern was formed by the price to be crossed to above for the bullish trend to be continuing;
• "The USD/CAD is attempting to breakout to a higher high this morning, potentially ending the range bound conditions that have been developing for the last five trading periods. Today’s bullish breakout is marked by the R4 Camarilla pivot point, which is found at a price of 1.4030. In the event that prices continue to rise above this value, traders may extrapolate today’s 85 pip trading range to place initial breakout targets near 1.4105."
• "Breakout traders should continue to monitor the R3 pivot point found at 1.4086. A move in price back inside of range resistance would suggest that the current breakout attempt has been invalidated. It should be noted at this point that the USD/CAD has already failed one breakout attempt today. In this scenario, traders may look for bearish momentum to carry the pair back towards values of support. This includes today’s R3 pivot, which is displayed above as range support at 1.4041."

Instrument	S1 Pivot	Yearly PP	R1 Pivot
USDCAD	1.2314	1.3157	1.4670

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