Hello my fellow Forex trader, please allow me to entertain you for a few minutes while I read this USDCAD chart for you... It is showing bullishness in several ways... Let's get started.
USDCAD (4H) Chart Analysis by Alan Masters
USDCAD Just got out of a very strong downtrend. The yellow zone is our support, it held several times in the past and a strong bounce just happened recently...
We have above average 'green' volume and a strong breakout above EMA10 (green line). After a short retrace, we can expect to hit our targets next.
The RSI has gone bullish after bouncing strong from oversold.
The MACD is showing a bullish crossover and the histogram turning in favors of the bulls. Still on the bearish side, but curving up strong.
Higher Time Frames (1D) support additional bullish action.
This is all for reading the chart. I hope you were entertained and can profit massively from this information.
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