Bullish clues:
- Price broke upward the bearish oblique support
- Price broke upward the 50 exponential moving average
- Bullish divergence on the Relative Strength Index (RSI) and RSI > 50 despite the strong decrease since March 2020
- Price reached a strong monthly support at 1.20000/1.20500
USD/CAD could now make a pullback on the bearish oblique support and/or the 50 EMA and reach the level of 1.23500 (last high and beginning of the movement)
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
- Price broke upward the bearish oblique support
- Price broke upward the 50 exponential moving average
- Bullish divergence on the Relative Strength Index (RSI) and RSI > 50 despite the strong decrease since March 2020
- Price reached a strong monthly support at 1.20000/1.20500
USD/CAD could now make a pullback on the bearish oblique support and/or the 50 EMA and reach the level of 1.23500 (last high and beginning of the movement)
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
Comment:
USD/CAD is forming a range, with the strong support at 1.20000 as the lower range bound. Still believe in an increase of USD/CAD.
Trade closed: target reached:
Take profit reached: USD/CAD reached the level of 1.23500!