USDCAD is forming ascending wedge on the daily chart with a clear bearish trend with higher lows and lower lows.
The target is on the important support level.
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The pair is moving nicely along the upward trend-line support.
A small local resistance confirmed breakout signals us that the bullish continuation to be expected.
Two possible targets.
First one-weak resistance-used to be support.
Next one-strong level.
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Hey guys, today we’ll be looking at the top seven ideas for the next market session.
Let us kick off with EURUSD. It’s looking very bullish. If we take a gander from a higher timeframe, we can see an important resistance level around 1.10
So let’s drop back down to h1, if the...
This is continuation of the mid term analysis.
I think price can go up to 1.42 in short-term
but then can drop to strong support zone at 1.34.
Simply follow your risk management.
But this pair is risky on my opinion.
Please don’t follow any analyst blindly.
If you following somebody with good Risk/Reward and Win Ratio.
Without risk management...
Looks like the US is doing a temporary border closing. In conjunction with a flight to safety (USD Index at all time highs), it's a brutal move for USDCAD.
2016 highs being re-tested here. I'd say you have to take the other side of this (Long CAD) as there will be a retrace back to normalcy. Trade to continue between countries.
What’s going on? This is Jordan with Conquer Trading & Investing providing simply the very best education and analysis on the internet. Here is the full analysis and outlook for this pair. If you have any questions or insights you would like to share feel free to share them in the comments below.
We have touched our ascending channel for the 3rd time and so we can expect a move to the downside.
For confirmation, wait for a break of the resistance box/level in green and try to catch a re-test of that same level at a lower time frame.
Do always use your stop-losses and remember this is not financial advice.