USDCAD has been moving in a rising channel pattern from the past one month from which it took a breakdown in the previous session. The price has given a daily close below the lower trendline, confirming an upcoming bearish move in the pair. The take profit is set at 1.31833 and stop-loss at 1.3193.
USDCAD the pair has been bounced with the bullish trend, Currently the pair trading below the Daily Resistance level @1.3379 with the lastest 4hr resistance @1.3390, The pair holding a bullish pattern , we can see a short term sell before rally to test support @ 1.3320/1.3300 , However we keep a bullish bias (targeting USDCAD 1.36 by year-end) in light of...
As i am observing on chart that price is in consolidation. but the possible trend is down so every pullback is a opportunity to take short position
If any possibilty to buy get that trade only when you have good money management. Y " wave is question mark because if we focus on w " wave it is also a three wave corrective structure from that point may be...
broke counter trendline and it looks like inverted H7S break in 1H time frame but shoulders look very shallow but it has broken the counter trendline H&S can be combined as the launching pattern for this. DXY looks to have support around 92.81 area.
USDCAD was on bullish trend from last week, but we can see a consolidation from last 2 days
the question is " is this the end of shot bullish trend"
so here is what i think
from last few days it has been resting on weekly pivot and testing its support and below that is the fibo 50 Percent support in any chance if it breaks the pivot i might end up hitting fibo...