After almost 6 months of decline, we may see USD/CAD establish it's support level around the 1.3200 level.
Looking at the weekly timeframe, the price is currently at the confluence of multiple support level. A break below this level would mean a very bearish sign of the currency pair and would expose the 1.3000 level or much lower. On the daily timeframe, there is also a possibility that it will form a double bottom (bullish reversal) pattern. If today's session close with a bullish rejection candlestick that would be the first sign to watch for a possible reversal. Bullish divergence is also forming. Key resistance will come at 1.3400. A break above this level will most likely tell a reversal in trend is coming.
Looking at the weekly timeframe, the price is currently at the confluence of multiple support level. A break below this level would mean a very bearish sign of the currency pair and would expose the 1.3000 level or much lower. On the daily timeframe, there is also a possibility that it will form a double bottom (bullish reversal) pattern. If today's session close with a bullish rejection candlestick that would be the first sign to watch for a possible reversal. Bullish divergence is also forming. Key resistance will come at 1.3400. A break above this level will most likely tell a reversal in trend is coming.
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.