USD/CAD: The price could to become bearish in this side
U.S. Dollar/Canadian Dollar look with a bearish perspective that I analyzed today and I see that some negative news has become a critic point about the unchanged interest rate.
To be very analytical,
In H4 timeframe, the price could to move to the key yellow zone, and also I draw a gray zone like confluence to watch in these points that the price could to change. The MACD still in the sell point.
And now, analyzing the H2 timeframe, it's look bearish in that point based in the price action. But beware what you draw, the gray zone in the H4 timeframe around $1.2981 CAD it's a weak support, but the key support it's around $1.2872 CAD. For that, I hope a bearish movement in USD/CAD
As I analyzing in H2 timeframe. I put a sell now and Stop Loss to $1.3023 CAD (41 pips) and target to $1.2872 CAD (111 pips)
I hope that this analysis support you!!!
To be very analytical,
In H4 timeframe, the price could to move to the key yellow zone, and also I draw a gray zone like confluence to watch in these points that the price could to change. The MACD still in the sell point.
And now, analyzing the H2 timeframe, it's look bearish in that point based in the price action. But beware what you draw, the gray zone in the H4 timeframe around $1.2981 CAD it's a weak support, but the key support it's around $1.2872 CAD. For that, I hope a bearish movement in USD/CAD
As I analyzing in H2 timeframe. I put a sell now and Stop Loss to $1.3023 CAD (41 pips) and target to $1.2872 CAD (111 pips)
I hope that this analysis support you!!!
Trade closed manually:
Closed up manually this trade
USD/CAD made this break out right now in the H1 timeframe and we could to see a bullish movement
Look;
In H4 we see a demand zone over here because I take the candlestick body of the indecision candlestick in the past hours. But that work like support, but the price goes to up in H1 timeframe
This it's the H1 timeframe and we break-out right now the résistance line that I draw from the higher point to the recent point, and we see this break-out now
USD/CAD made this break out right now in the H1 timeframe and we could to see a bullish movement
Look;
In H4 we see a demand zone over here because I take the candlestick body of the indecision candlestick in the past hours. But that work like support, but the price goes to up in H1 timeframe
This it's the H1 timeframe and we break-out right now the résistance line that I draw from the higher point to the recent point, and we see this break-out now
Nice pips!!!