BluetonaFX - USDCAD Approaching Yearly High
Hi Traders!
Today is a big day for the USDCAD, and the pair is approaching its yearly high at 1.38623, but before that, the monthly high resistance at 1.37858 must be broken.
Price Action 📊
The market has broken its trendline resistance and is near the monthly high at 1.37858. There is bullish momentum due to the anticipation of hawkish statements from the Federal Reserve.
Fundamental Analysis 📰
The US dollar continues to trade strongly amid rising yields and escalating tensions in the Middle East, after US Federal Reserve Chair Jerome Powell stopped short of hinting that US interest rates have peaked. Later, we have statements from both the Bank of Canada and Federal Reserve Chair Jerome Powell.
Support 📉
1.36058: PREVIOUS DAY'S LOW
1.30928: YEARLY LOW
Resistance 📈
1.37858: MONTHLY HIGH
1.38623: YEARLY HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Today is a big day for the USDCAD, and the pair is approaching its yearly high at 1.38623, but before that, the monthly high resistance at 1.37858 must be broken.
Price Action 📊
The market has broken its trendline resistance and is near the monthly high at 1.37858. There is bullish momentum due to the anticipation of hawkish statements from the Federal Reserve.
Fundamental Analysis 📰
The US dollar continues to trade strongly amid rising yields and escalating tensions in the Middle East, after US Federal Reserve Chair Jerome Powell stopped short of hinting that US interest rates have peaked. Later, we have statements from both the Bank of Canada and Federal Reserve Chair Jerome Powell.
Support 📉
1.36058: PREVIOUS DAY'S LOW
1.30928: YEARLY LOW
Resistance 📈
1.37858: MONTHLY HIGH
1.38623: YEARLY HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Comment:
Monthly high reached.
Trade closed: target reached:
Yearly high reached and broken.
