USDCAD LONG (4H) Analysis @alanmasters

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.

Namaste.

Comment:

Previous analysis:

Comment:

Going as planned. Solid call.

Trade closed: target reached:

All targets reached.