Its retest the resistance level at 1.0255. If its thouced, I expect some correction for minimum 30 pips or at least, it can reach 1.0225. The scenario will be fail if this pair went higher than 1.0285. Good luck
Thread: Usd/Cad
Its retest the resistance level at 1.0255. If its thouced, I expect some correction for minimum 30 pips or at least, it can reach 1.0225. The scenario will be fail if this pair went higher than 1.0285. Good luck
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As we see in the chart , the pair broke the resistance level @ 1.0246 (61.8%) and started to move up after facing the lower line of the bullish channel shown in the chart , so i support to buy the pair till the next hit of the upper line of the channel , or for long term traders they can keep their position open for few weeks until the pair reaches the strong resistance level @ 1.0521 (100.0%) . Good Luck
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Hamzagoroo (2019-03-24)
The pair is trading within a tight range with a downside bias, failing to confirm a break below 1.0250 support so far. A break below this level may extend the correction deeper but the overall bullish trend should remain intact.
Recommendation : Based on the charts and explanations above, we recommend buying the pair above 1.0150 targeting 1.0220 and 1.0320. Stop loss below 1.0050.
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Hamzagoroo (2019-03-24)
This pair is fail to refill yesterday's gap. And I expect this pair will thouches its support level at 1.0225 and broke it. The next target for this pair is 1.0200. The scenario will be fail only if this pair went higher than 1.0265.
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The pair maintained the bearish bias without any upside pullback so far, however price has reached 1.0125 support which may support price in the near term. In general, the strong bearish divergences seen on momentum indicators support our suggested bearish expectations this morning.
Recommendation : Based on the charts and explanations above, we recommend selling the pair below 1.0300 targeting 1.0125. Stop loss above 1.0350.
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Hamzagoroo (2019-03-24)
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Hamzagoroo (2019-03-24)
Now the price is moving sideways on the price range between 1.0255 and 1.0235. If this pair broke the support, I think it'll continue to 1.0215. But if is it fail, I think it'll go back to 1.0265 or maybe refill its gap.
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My weekly analysis :
after the daily down broken trend shown in the chart the pair this week has stopped in front of the first strong resistance at 1.0319 so this week if one daily candle closed down of the first resistance so i will give a sell order and if it succeeded to close up of the first resistance so that moment there is no doubt that the price will go to the second resistance at 1.0415
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Hamzagoroo (2019-03-24)
Momentum indicators is gaining bearish momentum, while price continues to push downwards, and that may push price lower towards the key short term support at 1.0225, accordingly, the intraday bullish scenario remains probable.
Recommendation : Based on the charts and explanations above, we recommend buying the pair around 1.0225 targeting 1.0290 and 1.0320. Stop loss below 1.0150.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Hamzagoroo (2019-03-24)
Its riding the bull, and now its testing to broke the resistance level at the price of 1.0295. I expect this pair could be much more higher than yesterday. Next target I expected is 1.0315 and may go to 1.0340
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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