USDCAD ANALYSIS WEEK OF JULY 24, 2016
Weekly:
Price is in an uptrend. The trend line has not broken and is seeking higher highs.
Daily:
A gorgeous ascending triangle is forming with presumable assumption that the breakout will be to the upside. Price is in major resistance at 1.31500
4 Hour:
Since we are to want to long this pair let us see where to enter. On the 4H chart price is trending in a channel. Shortening between 1.31500 - 1.32000 at resistance seems like a nice pullback trade.
Look for buying opportunity at 1.29500 - 1.3000 range for its continuation up. 1.33000 seems like a good target to aim for.
Wishing everyone a good trading week!
Price is in an uptrend. The trend line has not broken and is seeking higher highs.
Daily:
A gorgeous ascending triangle is forming with presumable assumption that the breakout will be to the upside. Price is in major resistance at 1.31500
4 Hour:
Since we are to want to long this pair let us see where to enter. On the 4H chart price is trending in a channel. Shortening between 1.31500 - 1.32000 at resistance seems like a nice pullback trade.
Look for buying opportunity at 1.29500 - 1.3000 range for its continuation up. 1.33000 seems like a good target to aim for.
Wishing everyone a good trading week!