USDCAD
is not able to update local highs at the moment on the background of weakening
DXY
. The market is under pressure from the resistance, which may have a positive impact on the Canadian dollar.
On D1 the market is in a huge long-term range. There are several reasons for further medium-term decline:
Support area, which can form an impulse: 1.3670 - 1.3657
Resistance levels: 1.3736, MA200
Support levels: 1.3670, 1.3657, 1.35745
High probability of support retest with the subsequent breakout of the area and the beginning of the fall. Targets are indicated on the chart, perhaps in the area of 1.3735 - 1.3650 will be formed high volatility and volumes. Consolidation below the area (after the retest) may serve as a signal
Regards R. Linda!
On D1 the market is in a huge long-term range. There are several reasons for further medium-term decline:
- - false breakout of resistance
- - no opportunity to test the local maximum
- - retest of support and MA-50
Support area, which can form an impulse: 1.3670 - 1.3657
Resistance levels: 1.3736, MA200
Support levels: 1.3670, 1.3657, 1.35745
High probability of support retest with the subsequent breakout of the area and the beginning of the fall. Targets are indicated on the chart, perhaps in the area of 1.3735 - 1.3650 will be formed high volatility and volumes. Consolidation below the area (after the retest) may serve as a signal
Regards R. Linda!
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NO‼️
You❗️CAN and ❗️SHOULD make money in trading!
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🟢Free Telegram Channel:
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🔴Contact:
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