Hi traders,
this is a kind of an update of my previous USDCAD post.
Now the situation is a little bit different but my overall analysis remain the same. Recently we broke to the upside a strong level of resistance (black line); as soon as the price come back to retest that level it turned to support; nevertheless price didn't make any higher close and so we can consider this as a little consolidation zone.
The daily vision though remain bullish (and with a possible long run ahead) and we can consider this blue zone as a good level to find bullish opportunities with a good risk to reward.
So we are now looking for some buying signals in 4hr and 1hr chart as double bottom or engulfing candles.
Let's see what happens.
If you want to share your vision, please comment.
Otherwise, see you in the next chart.
this is a kind of an update of my previous USDCAD post.
Now the situation is a little bit different but my overall analysis remain the same. Recently we broke to the upside a strong level of resistance (black line); as soon as the price come back to retest that level it turned to support; nevertheless price didn't make any higher close and so we can consider this as a little consolidation zone.
The daily vision though remain bullish (and with a possible long run ahead) and we can consider this blue zone as a good level to find bullish opportunities with a good risk to reward.
So we are now looking for some buying signals in 4hr and 1hr chart as double bottom or engulfing candles.
Let's see what happens.
If you want to share your vision, please comment.
Otherwise, see you in the next chart.
