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VasilyTrader
Jun 2, 2020 10:18 AM

USDCAD: Key Weekly Levels Education

U.S. Dollar/Canadian DollarFXCM

Description



USDCAD is falling like crazy.

here are the strongest key weekly support levels to catch a pullback:

support 1 - 1.33 - 1.335 area based on a major rising trendline and a horizontal structure
support 2 - 1.30 level based on a horizontal structure

Closest key resistance:
1.37 - 1.38 area based on a horizontal structure



also, many questions about the current price level 1.35
it is also a strong structure level, however, the reaction from it will be most likely quite limited so I have just neglected it on purpose.
however, if you see a decent opportunity on that, why not to try to catch it)
Comments
Coach-Jx
a little pump to 1.3540 or 1.3580 before it fall again. thank you for sharing your analysis.
VasilyTrader
@JXXT, you are welcome my friend!!!
MichaelWood81
Very good analysis!!!
VasilyTrader
ZahidHabib91
Great analysis bro:)
VasilyTrader
@ZahidHabib91, thank you my friend!
r.romaithi
Wait till tomorrow, This pair will shoot up like a rocket
Buy a round 1.34
VasilyTrader
@r.romaithi, why???
r.romaithi
@VasilyPonomarev,
Tomorrow...
1. Rate decision for CAD
2. Expecting better numbers for US (news)
3. Approaching strong support
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