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JvdB99

USDCAD respected trendline

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
JvdB99 Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns Technical Indicators USDCAD short zones
2
0
trendanalysis chartpattern indicator usdcad short zones
snapshot
The USDCAD has made a big downward movement in the last days. This allows us to establish that a new trend has arisen. I expect this trend to last for a longer time.

As you can see, a trend line (black) has been drawn. This trend line has been hit once. So this is the moment when the trend line can be confirmed or can be canceled.
Different zones have also been drawn. The zones in combination with the trend line give an indication that a downward movement is very possible.

Because of this, I think the USDCAD will soon make a new downward movement.
Trade closed: target reached:
We reached a nice profit of +150 pips!
Congrats to the people who took the trade!
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