Hey everyone! Upon analysis today I came across the USDCAD pair. Now looking at monthly and weekly timeframes I identified a valid support which price has respected as you can see. So, price should begin to move up eventually. However, I will wait for price to go down a little more and then reverse or show immediate bullish strength. We shall see though. Comment...
Hello, as we see price has been on a downtrend and has reached our support. As we see, it has bounced off and seems to bullish momentum. Furthermore, when scoped out we see a 'w' shape pattern emerging, which could mean price has to rise to complete this. Thoughts?
Hello, as we can see price has been bullish and has inevitably reached a resistance zone, which has previously proved to cause reversals. This could be one indicator for prices to drop. Secondly, I see a shooting star that has formed on the 4HR timeframe, suggesting lots of sellers are present in the market. Any thoughts or constructive criticism please leave below!
Hello, as we see, the price has come down with great momentum in proximity to the support level. As seen before in the chart, the price seems to dip slightly under and then shoot up again. This could occur again soon. Any thoughts, please leave them down below!