In this tutorial you can see that the USDCAD price on the 15M chart (15 Minutes per candle) is crossing the resistance line after reaching a low level. The High level has been set at around 1.27132 Level. As for the new the price broke a resistance level at 1.26848 it is possible that the price will continue to Increase.
What do we see (?)
- Break of the resistance level around: 1.26827
- Crossing of the Momentum indicator and MA indicator
- Sufficient volume to trade
- Long signal(s)
In my opinion it is possible that the price will raise and a BUY position is suitable in this matter.
*This Analysis is for educational purposes only and is not financial advise.
What do we see (?)
- Break of the resistance level around: 1.26827
- Crossing of the Momentum indicator and MA indicator
- Sufficient volume to trade
- Long signal(s)
In my opinion it is possible that the price will raise and a BUY position is suitable in this matter.
*This Analysis is for educational purposes only and is not financial advise.
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