USD/CAD has had a hard rejection at the top of the Daily Bull channel. Unfortunately, we did not close the gap between 1.39 and 1.40. Instead, we fall back down to the 1.36500 area and still have some room to fall. I would start longing around 1.36, look for entries on the 1hr or 4hr chart and hold a position until the top of the bull channel.
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Just an update on yesterdays trades, price is still showing nice signs that this support level is going to hold. I have opened a half size position I usually risk so that if price pushes back down to a better entry point I can add another position.
Hello my fellow traders, hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into the analysis.
As we can see, that the pair broke out of its resistance and as per our analysis, it will go up.
Let us know your views on this in the comment section. Thank you all.
There is good news for...
USDCAD was trading in falling wedge pattern for a very long time now it has broke-out from that pattern on the upside, so might see a new trend in USDCAD. We can see consolidation or small price correction for a shorter time and then a new long trend. One can initiate the trade after small price correction towards the falling wedge resistance line.
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Hello fellow traders, hope you all are having a good day! Here is our analysis on USDCAD. We have given two charts, one of H1 and the other of D1. In the D1 chart we have shown you the support and resistance line. (see our comment section). Now, as we come to our H1 chart you can see that it has started falling down after hitting the resistance line. The pair also...
