USDCAD LONG (4H) Analysis @alanmasters

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hello my fellow Forex trader, please allow me to entertain you for a few minutes while I read this USDCAD chart for you... It is showing bullishness in several ways... Let's get started.

USDCAD (4H) Chart Analysis by Alan Masters

  • USDCAD Just got out of a very strong downtrend. The yellow zone is our support, it held several times in the past and a strong bounce just happened recently...

  • We have above average 'green' volume and a strong breakout above EMA10 (green line). After a short retrace, we can expect to hit our targets next.

  • The RSI has gone bullish after bouncing strong from oversold.

  • The MACD is showing a bullish crossover and the histogram turning in favors of the bulls. Still on the bearish side, but curving up strong.

  • Higher Time Frames (1D) support additional bullish action.

This is all for reading the chart. I hope you were entertained and can profit massively from this information.

Give me 100 likes and I will share with you ENTRY, TARGETS & STOP LOSS.

Your support is truly appreciated.

Jan 11
Comment: Previous analysis:
Jan 15
Comment: Going as planned. Solid call.
Jan 25
Trade closed: target reached: All targets reached.
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