usdcad analysis
In the short term, there is an uptrend that is resisting at 1.27.
In the 1 hour time frame, there is a downward trend that started on September 20 and this trend continues due to the formation of successive H and L.
The downtrend will continue unless the price can cross the resistance level of 1.273.
Data on Canada's PMI and GDP will be released on Friday. This data is very important for the currency pair because it can have a direct impact on the value of the Canadian dollar against the US dollar.
In a period of 15 minutes, a triangular pattern is seen
However, in the downtrend, the price is likely to continue to the main level of 1.26 and then 1.258.
The stop loss in these transactions will be more than 1.273
In the 1 hour time frame, there is a downward trend that started on September 20 and this trend continues due to the formation of successive H and L.
The downtrend will continue unless the price can cross the resistance level of 1.273.
Data on Canada's PMI and GDP will be released on Friday. This data is very important for the currency pair because it can have a direct impact on the value of the Canadian dollar against the US dollar.
In a period of 15 minutes, a triangular pattern is seen
However, in the downtrend, the price is likely to continue to the main level of 1.26 and then 1.258.
The stop loss in these transactions will be more than 1.273
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