Possible Long for USDCAD But Sell for Now

Short

U.S. Dollar / Canadian Dollar (FX:USDCAD)

Updated

FX:USDCAD U.S. Dollar / Canadian Dollar

trendanalysis chartpattern indicator usdcad usdcadshort usdcadforecast usd cad signals accurate

Possible Long term buy for USDCAD incoming. Price is showing a strong indication of a long bias as it has been moving above both the 200 and 50 EMA. Price is currently working towards the trend lone channel support zone as well as a minor individual support. If price breaks this support then we could see a further big drop in the price but if we see the daily candles closing within the trend line channel then we can expect the price to respect the trend and continue upwards again. For now, it would be wise to sell the price down to the trend line support and wait for confirmation at the trend line support for further trades.

USDCAD

Comment:

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