USD/CAD Reversal off of Upper Channel Resistance, RSI Overbought
USD/CAD is trending in an Upward Channel.
We have recently touched the resistance of this channel, so if price action continues this trend, we should see reversal to the channel support.
We are also approaching structure resistance , which should provide a strong reversal area as well.
-RSI is heavily overbought
-Approaching strung Structure Resistance
We have recently touched the resistance of this channel, so if price action continues this trend, we should see reversal to the channel support.
We are also approaching structure resistance , which should provide a strong reversal area as well.
-RSI is heavily overbought
-Approaching strung Structure Resistance
Operación cerrada: objetivo alcanzado:
First and Second Target reached (red and gray support lines), I expect side movement until channel support is reached at intersection of black and gray lines.
After support is reached we will look for signs of reversal towards upper resistance of trend channel and structure resistance at 1.334
After support is reached we will look for signs of reversal towards upper resistance of trend channel and structure resistance at 1.334