SUMMARY: The USDCAD pair bounced slightly during the course of the day on Friday, using the 1.3027 level as support. At this point in time, the market is looking bullish. The primary trend of USDCAD is bullish on charts and price is trading below its Resistance trend line in its 1 hourly chart. In its daily chart the price is sustaining above 100 day SMA that are appears on the above image indicating uptrend of the pair. It is having an important resistance at the level of 1.3059 Support at the level of 1.3027. If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.
INDICATORS:- MACD is sustaining in its positive territory indicating the bullish trend in the pair. RSI is sustaining in its buying zone indicating the upcoming positive trend in the pair. STRATEGY: USDCAD is looking bullish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions in it.
I am with you TheBanker. i have already made 350 pips with this analysis thanks!!
TheBanker
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Glad you're in this one mate! Lobster on you!
fali4209
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Mr banker please tell me you have closed your position
TheBanker
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yup will be long again from 1.29552 (idea to follow)
fali4209
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Good man I hate seeing people lose money
JPariz
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lol he's selling into more drawdown now. excellent cad trading keep it up. Let's see that live statement from ur broker now. Obviously he's got multiple accounts giving himself good comments.