Mahtab_Tradia

USDCAD Testing The Support Level

FX:USDCAD   U.S. Dollar / Canadian Dollar
We have a downtrend in all time frames and price is below the weekly pivot and also below the EMAs with three different periods (20, 50 & 100). I just hide the EMAs because I didn’t want to make the chart untidy! Price is testing the first support level (1.25540). MACD shows a regular positive divergence which means there would be a upside push. I expect a rejection from this level and a bounce to the up to the supply zone (purple triangle). Then, IF there was any rejection by the supply zone in the lower time frames, we can expect the price to fall again and break the S1 which can be the first target and then falls more to the S2 as our second target. What do you think about USDCAD?
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Comments

Amazing work here! thanks for sharing
+2 Reply
nice chart 📈 👌👌
+1 Reply
Perfect setup, clean and clear
+1 Reply
Playing out perfectly, thanks
+1 Reply
hii you are wondeful😍👀
+1 Reply
Great analysis!
+1 Reply
I like this awsome setup :)
Reply
I like it, wonderful.
Reply
Thanks for sharing
Reply
Nice idea!
Reply
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