USDCAD H4 - TWO POSSIBLE SCENARIOS
this pair is trading inside this green channel, so we are overall bearish here.
price is now sitting around the upper green trendline and orange resistance, so we may expect a downward movement from here
unless price breaks above the orange level 1.4200 upward aggressively, then an upward movement till around 1.4650 would be expected
as mentioned, for now, this pair is overall bearish (going downward), in this case, the first main rejection area is the lower green trendline and blue level 1.380
if price breaks below the blue level 1.3800, then a downward movement till around 1.3500 would be expected
this pair is trading inside this green channel, so we are overall bearish here.
price is now sitting around the upper green trendline and orange resistance, so we may expect a downward movement from here
unless price breaks above the orange level 1.4200 upward aggressively, then an upward movement till around 1.4650 would be expected
as mentioned, for now, this pair is overall bearish (going downward), in this case, the first main rejection area is the lower green trendline and blue level 1.380
if price breaks below the blue level 1.3800, then a downward movement till around 1.3500 would be expected
This analysis is done using RichTL
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www.RichTL.com
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Best CFD broker
cutt.ly/TickmillReal
