USDCAD - Consolidating more?
USDCAD is an interesting one.
We have a thriving Canadian Dollar (as per showing on CXY H4) which approaches resistance levels on Daily. USDCAD has been consolidating for more than a month and a half. Should we get a strong rejection and a close above the bottom of the consolidation area, I wouldn't be surprised to see price return. The DXY should gain value over the next few weeks as measures to relieve Covid-19's economic impact is slowly beginning throughout the US.
Targets based on structure on both SL and TP.
This is an analysis, not a signal. Feel free to like and follow for more analysis!
BluemindRichard
We have a thriving Canadian Dollar (as per showing on CXY H4) which approaches resistance levels on Daily. USDCAD has been consolidating for more than a month and a half. Should we get a strong rejection and a close above the bottom of the consolidation area, I wouldn't be surprised to see price return. The DXY should gain value over the next few weeks as measures to relieve Covid-19's economic impact is slowly beginning throughout the US.
Targets based on structure on both SL and TP.
This is an analysis, not a signal. Feel free to like and follow for more analysis!
BluemindRichard
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.