I make a pink box in the chart there is several buyer pressure try to hold the price in certain level.
Currently will try to buy this pair due of the sideway movement starting a couple days.
This is counter trend trade so will use small lot size.
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I make a pink box in the chart there is several buyer pressure try to hold the price in certain level.
Currently will try to buy this pair due of the sideway movement starting a couple days.
This is counter trend trade so will use small lot size.
If a M15 close above 0.9800 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 0.9700 sell only and do not buy. If price closes back above it again do nothing
The range 0.9800 and 0.9700 is neutral area, any trade done in between is personal decision and not part of this analysis
traders are be likely to increase their bets on a new stimulus to help the economy, which should put the USD under more pressure, and accordingly the USD/CAD pair is likely to drop further in that case.
the chart is showing that the pair has succeeded in closing it's daily candle above level 0.9800 , and that's mean the up trend is still standing and the pair might head to 0.9850 and then 0.9900
Intraday bias in USD/CAD remains neutral for the moment. Price actions from 1.0009 are treated as consolidations only and is expected to complete soon
On the upside, whilst recovery to 0.9850 cannot be ruled out, said resistance at 0.9939 should hold, bring such a retreat later
the United States – Canadian dollar pair. In the medium term, we can point to the support level at 0.9335 as a key point for a possible realization.
moving average opens the door for a more sizable shift in the overall construct of the market and a sustained move back above parity. In the interim, look for any intraday setbacks to be well supported above 0.9700 on a daily close basis.
Found support at .9722, highlighting a potential large falling wedge pattern. Above Tue's hi at .9817 would trigger a retest of trendline resist near .9850, above which opens .9924/1.0010. Below .9722 resumes decline
Recently the price has been demonstrating downside movement despite the fact that it managed to decline by almost 120 pips in 8 days. Current resistance for the price is the 50.0 long-term Fibonacci correction level.