💱 USDCAD - Retest of support before the news
Aktualisiert
USDCHF forms a retest of the strong support zone, which includes the trending downward resistance line, which was previously broken and the key support level of 0.88595.
TA on the high timeframe:
1) Important news is published today (marked on the main chart). News of various nature can be quite confusing as it all depends on the current indicators, but there is a 55% chance for more positive dynamics for the dollar.
2) Globally - the downtrend, but the price is testing a strong support zone in the distribution format
TA on a low timeframe:
1) Retest of the support zone. Upon activation of the liquidity pool, the price may respond with an upward pullback.
2) If the support at 0.88595 is broken through, the price will fall to 0.88000.
3) The trend is bearish, so there is sellers' pressure on the market. It is clearly seen from the descending line.
4) News - there are many of them and there is no exact reason to indicate further movement, but if the price returns behind the downtrend line, it will continue growing to 0.8995, if the price breaks the support, it will fall to 0.8800
Key resistance: descending line, level 0.890
Key support: level 0.88595
TA on the high timeframe:
1) Important news is published today (marked on the main chart). News of various nature can be quite confusing as it all depends on the current indicators, but there is a 55% chance for more positive dynamics for the dollar.
2) Globally - the downtrend, but the price is testing a strong support zone in the distribution format
TA on a low timeframe:
1) Retest of the support zone. Upon activation of the liquidity pool, the price may respond with an upward pullback.
2) If the support at 0.88595 is broken through, the price will fall to 0.88000.
3) The trend is bearish, so there is sellers' pressure on the market. It is clearly seen from the descending line.
4) News - there are many of them and there is no exact reason to indicate further movement, but if the price returns behind the downtrend line, it will continue growing to 0.8995, if the price breaks the support, it will fall to 0.8800
Key resistance: descending line, level 0.890
Key support: level 0.88595
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