USDCAD- 08Apr2022
On the daily, USDCAD bounced above 20EMA and is now at ascending trendline resistance. Price could have a last impulsive bounce higher to resistance at 1.265000 before facing a lot of bearish pressure. It could potentially coincides with the CAD employment data releasing at GMT 12.30pm
On the H4, price is consolidating sideways which could potentially gain bullish momentum to retest 1st Resistance at 1.26495 before facing bearish pressure. Also noting that H4 Stochastic is at resistance where further upside could be limited.
This is for personal work record purposes only, not trade / financial advise or solicitation of trade.
On the daily, USDCAD bounced above 20EMA and is now at ascending trendline resistance. Price could have a last impulsive bounce higher to resistance at 1.265000 before facing a lot of bearish pressure. It could potentially coincides with the CAD employment data releasing at GMT 12.30pm
On the H4, price is consolidating sideways which could potentially gain bullish momentum to retest 1st Resistance at 1.26495 before facing bearish pressure. Also noting that H4 Stochastic is at resistance where further upside could be limited.
This is for personal work record purposes only, not trade / financial advise or solicitation of trade.