Hello Everyone, this Sunday I bring my technical outlook on what I think the market is telling us about the currency asset USD / CAD.
Since mid-June 2018, we have seen the price creating lower lows and lower highs leaving behind a bearish trend line.
Finally, the US Currency shows some powerful momentum breaking the descending channel.
With this, we can expect a correction until around the 1.3057 or 1.3092 areas that represent important zones where the price as showed some resistance in the past later.
Once this process is finished, we can enter long after a break of the counter trend line taking a generous profit around 1.34888 level.
This market analysis is just an investment idea, the same shouldn't be taken as a financial counselling without risk involved.
CFD´s are very complex financial products that can result on the loss of most capital invested.
Since mid-June 2018, we have seen the price creating lower lows and lower highs leaving behind a bearish trend line.
Finally, the US Currency shows some powerful momentum breaking the descending channel.
With this, we can expect a correction until around the 1.3057 or 1.3092 areas that represent important zones where the price as showed some resistance in the past later.
Once this process is finished, we can enter long after a break of the counter trend line taking a generous profit around 1.34888 level.
This market analysis is just an investment idea, the same shouldn't be taken as a financial counselling without risk involved.
CFD´s are very complex financial products that can result on the loss of most capital invested.