USDCAD – Price might break channel and then follow up move higher
Trend: Strong Buy
Support/Resistance:
R3: 1.33922
R2: 1.33454
R1: 1.32800
S1: 1.32721
S2: 1.32339
Price action:
Buyers rebonded from the channel, but still we don't know if sellers will react, so we need first answer from sellers. If buyers are able to break channel and hold above then we have to face off with R2 to follow official target at 1.33922 resistance level.
If buyers cannot hold, then we can see rest from buyers, which is dependent from sell bounce.
Potencial trade idea:
Bulls targets:
T1: 1.33454
T2: 1.33922
Bears targets:
T1: 1.32339
NOTE – We are trading USDCAD via the preferred trading setups
ELITEFXACADEMY
Disclaimer: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.
Trend: Strong Buy
Support/Resistance:
R3: 1.33922
R2: 1.33454
R1: 1.32800
S1: 1.32721
S2: 1.32339
Price action:
Buyers rebonded from the channel, but still we don't know if sellers will react, so we need first answer from sellers. If buyers are able to break channel and hold above then we have to face off with R2 to follow official target at 1.33922 resistance level.
If buyers cannot hold, then we can see rest from buyers, which is dependent from sell bounce.
Potencial trade idea:
Bulls targets:
T1: 1.33454
T2: 1.33922
Bears targets:
T1: 1.32339
NOTE – We are trading USDCAD via the preferred trading setups
ELITEFXACADEMY
Disclaimer: Martin's views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don't publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.