Hit_N_Run
Long

Trend Trading the Loonie

FX:USDCAD   U.S. Dollar/Canadian Dollar
498 1 12
Looking at the technical picture for the USDCAD             we might be nearing a good support soon, a zone where buying the trend again could be the ideal choice.

The pair has completed a double top bearish reversal formation few weeks ago, and closed below the mid-band for the Bollinger band . The move reached near the ideal target for the double top formation, but found demand at the first rising trend line .

Just below is another key longer term trend line in addition to the lower-band. Having said that, trend-followers will be eager to long the pair near that green shaded area. You can time your trade or wait for more confirmation through the lower time-frames e.g daily or four-hour charts.

Good Analysis. Thanks.
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out