Get started
FinancialGamblR

USDCAD bracing for a major reversal off of weekly highs

Short
U.S. Dollar / Canadian Dollar (OANDA:USDCAD)  
FinancialGamblR Updated   
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Support and Resistance Supply and Demand USDCAD usdcadshort usdcadbearish usdcadsell Bearish Patterns reversal CAD
6
1
trendanalysis supportandresistance supplyanddemand usdcad usdcadshort usdcadbearish usdcadsell bearish reversal cad
Just a few key points that I'm watching on the hourly timeframe:

  • USDCAD reached January, 2016 highs earlier today
  • Currently monitoring this wedge breakout for further selling pressure potential
  • We want to assess if resistance holds up at the latest level breach @ 1.4424
Comment:
Quick chart of the weekly level that we're also eyeing:

snapshot
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.