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' and a strong breakout above EMA10 (green line). After a short retrace, we can expect to hit our targets next.
- The has gone after bouncing strong from oversold.
- The is showing a crossover and the histogram turning in favors of the bulls. Still on the side, but curving up strong.
- Higher Time Frames (1D) support additional action.
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