USDCAD 12H Analysis
Good Afternoon Everyone,
The USDCAD was just rejected at a strong support. I expect further movement to the downside following a correction wave back to the top of the trend-line price has been following. The top of this trend-line also coincides with the .618 Fib-Level.
Entry consideration would be made when price is rejected at the top of the trend-line (1.3200 area). If price breaks through and closes above this trend-line, we may see more bullish upside prior to a move downwards.
Thank you for reading and please be sure to do your own analysis prior to entering trades.
*This is not investment advice but my analysis of the current market conditions*
The USDCAD was just rejected at a strong support. I expect further movement to the downside following a correction wave back to the top of the trend-line price has been following. The top of this trend-line also coincides with the .618 Fib-Level.
Entry consideration would be made when price is rejected at the top of the trend-line (1.3200 area). If price breaks through and closes above this trend-line, we may see more bullish upside prior to a move downwards.
Thank you for reading and please be sure to do your own analysis prior to entering trades.
*This is not investment advice but my analysis of the current market conditions*
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.