Hello everyone!
-This is my daily analysis of USD/CAD and I can see that the price is moving in descending channel and now the price was tested at strong resistance line and the price was rejected and now the price is above resistance line,I put blue rectangle as my stop loss lets say if I sell this pair because on that level there was strong resistance in past days and months.I put red arrow to point you if the price break trough resistance zone where it might go and i put yellow arrow as my prediction where the price will go if it goes in bearish direction.
-On daily and weakly base both pairs are at similar level but USD is little bit stronger than CAD...So before i decide what to do,I will wait for conformation and further fundamental news about this pair,and you should too.
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give my support,i will appreciate all support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
-This is my daily analysis of USD/CAD and I can see that the price is moving in descending channel and now the price was tested at strong resistance line and the price was rejected and now the price is above resistance line,I put blue rectangle as my stop loss lets say if I sell this pair because on that level there was strong resistance in past days and months.I put red arrow to point you if the price break trough resistance zone where it might go and i put yellow arrow as my prediction where the price will go if it goes in bearish direction.
-On daily and weakly base both pairs are at similar level but USD is little bit stronger than CAD...So before i decide what to do,I will wait for conformation and further fundamental news about this pair,and you should too.
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give my support,i will appreciate all support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.