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The_Best_Trader_1991
Jan 28, 2023 12:33 PM

USD/CAD :: Downtrend in the new week !! Short

U.S. Dollar / Canadian DollarFOREX.com

Description

USD/CAD :::

Orange line :: is a reliable line that the price reacts to every time it is touched, and this line shows the downward trend and currently plays the role of support for the price position.

Blue line :: It is a resistance that has been formed in a shorter period of time and the price has recently broken it, which can be another reason for the continuation of the downward trend.

Purple Channel ::
Based on the corrective movements, the price has been drawn in a higher time frame, which shows a slow downward trend.

The previous analysis has also shown the corrective movements well ::::


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Comments
InvestingScope
Thank you for your work! Have a glance at ours too:
The_Best_Trader_1991
Can it enter the range of 1.3 ?
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