FX:USDCAD   U.S. Dollar / Canadian Dollar
4 Hour


We have a trend line that has been tested multiple times.

Price has respected 1.255 level.

30 Min

Price is consolidating between 1.25395 and 1.25870

Tested 1.25395 twice will try to enter if there's a third touch.


Confidence

About 75%

Reasons
- Price broke market structure on smaller time frame.
- Price has strong recent bearish momentum.

-- Price hasn't broken 4h market structure yet so buys are still eleigble.



Comment: Would like to add that if price breaks and closes below consolidation would 100% look for sales, however I have a buy bias for DXY right now.

Comments

Nice and educational Analys
+1 Reply
Black-Capital vahidhd89
@vahidhd89, Thank you !
Reply