Get started
TheCaffeinatedTrader

Can USDCAD Break This Strong Monthly Suppoort?

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
TheCaffeinatedTrader  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Technical Analysis forexsignals Forex usdacad downtrend Bearish Patterns
2
0
trendanalysis technicalanalysis forexsignals forex usdacad downtrend bearish
We already tested this point 2 times already and coming back now for the 3 attempt. Will this be the time that breaks it? If we do, I see price making its way down to 1.308 daily support level, coming back to retest that monthly level to confirm a new resistance and then retracing back down a strong weekly support at the 1.034 - 1.035 price level. Good luck and trade at your own risk.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.