search CFD Spy


Most Popular

got trading broker knowledge? Why not Submit a rating and review today!
Compare Online Trading brokers

1 Star2 Stars3 Stars4 Stars5 Stars
(Be first to rate!)

November 2nd, 2017, 10:05 am | By forexcycle | Published in Daily Technical | Comments on this postComments Off

USDCAD failed to breakout of 1.2916 resistance and pulled back to break below a bullish trend line on the 4-hour chart, suggesting that lengthier consolidation for the uptrend from 1.2433 is underway. Range trading between 1.2780 and 1.2916 would likely be seen in a couple of days. As long as 1.2780 support holds, the uptrend could be expected to resume and further rise to 1.3100 area is still possible after the consolidation. On the downside, a breakdown below 1.2780 support could signal completion of the uptrend from 1.2433, then the pair would find next support at around 1.2600.

USDCAD 4-hour chart

Be Sociable, Share!

About the author

forexcycle provides free forex analysis, forex signals and forex trading strategies.

You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.