With reference to our previous post regarding the USDCAD bearish momentum, The history actually didn't repeated itself. The price made current month High. Also, There was a strong resistance which is now moved slightly towards 1.3200.
We will be waiting for a price retracement to touch this 1.3200 highs again and form a candlestick pattern i.e Bearish Engulf, Inside Bar etc. to fell down towards 1.3040 area.
Stay tuned for a signal in this pair as long as it staying below 1.3200 We will think about bearish.
We will be waiting for a price retracement to touch this 1.3200 highs again and form a candlestick pattern i.e Bearish Engulf, Inside Bar etc. to fell down towards 1.3040 area.
Stay tuned for a signal in this pair as long as it staying below 1.3200 We will think about bearish.
Order cancelled:
Market is now on bullish trend therefore it invalidates our above analysis.
