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DK_Investment
Dec 31, 2018 12:06 PM

USD/CAD - long term forecast - strong sell  Short

U.S. Dollar/Canadian DollarFXCM

Description

USD/CAD is currently strong overbought and showing bearish signals on daily chart. I expect at 1.365 - 1.37 strong resistance which should not break. If this resistance break the price will go up to 1.378-1.38 which is another strong resistance area, there could be formed a double top which is strong bearish signal.
Targets and position turnarounds are drawn in the chart.

Trade closed: target reached

long term target 1 reached - lets see in the next days if the long term trend line will hold
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