Usdcad Setup Educational Breakdown :-
USDCAD 4HR Frame : -
USDCAD Currently sitting on Strong Support Area But Not Break It . Break For the Break Of That Strong Support Area (The Blue Box i Draw On Chart)
For More Confirmation We Will Wait For The Price to Retest The support level , It may pullback to The small Black Box area after break the support and...
. There is still a possibility of temporary retracement to suggested resistance line (1.3275). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. USDCAD is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can...
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.
READ THE MARKET COMMENTARY IN THE CHART CAREFULLY...AND TRY TO LEARN THE ELLIOT WAVES...OTHERWISE ITS TOUGH TO UNDERSTAND MY ANALYSIS
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted...