Saravan
Long

USDCAD where to buy again - short term

FX:USDCAD   U.S. Dollar/Canadian Dollar
51 0 3
Hello Traders,

This pair was down on Friday even when USD was up most of the day. This is because 3150 zone is a strong resistance zone which is the area of previously broken daily trend line . I don't want predict anything for long term but for a short term trade, I will be looking to buy this pair around 1.2950 area.

This area is confluence of 4 hour trend line support, previous structure support and 61.8 fib of last low and high. Also, RSI is making a divergence. I will be looking for 100 to 120 pip profit with 55 pip stop loss.

Good Luck!


Price failed to break the strong resistance.
snapshot
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out