USDCAD H1 Bullish Forecast
United States Dollar vs Canadian Dollar
USDCAD BULLISH H1
US Dollar has been down over the past week and it is really amazing to spot an opportunity for the upcoming raise of US Dollar.
Technical analysis:
We found several reasons for the USDCAD pricing to go high.
1. USDCAD has pumped up from support level around 1.32313, where 8H TM was managed to be kept by bulls.
2. 1H TM raising trendline has been respected in the recent pricing in rows, after the second touch the price has printed a cup where the handle in process of making, from the end of handle we expect third touch of raising trendline where we'll enter our buying positions for our clients.
The entry zone may be 1.33586 or 1.33523.
Target1
There'll be resistance around 1.34088 this will be first target for short time traders and BreakEven for long time traders.
Target 2
The 1.34994 area is next resistance for buyers once the first target is done.
USDCAD BULLISH H1
US Dollar has been down over the past week and it is really amazing to spot an opportunity for the upcoming raise of US Dollar.
Technical analysis:
We found several reasons for the USDCAD pricing to go high.
1. USDCAD has pumped up from support level around 1.32313, where 8H TM was managed to be kept by bulls.
2. 1H TM raising trendline has been respected in the recent pricing in rows, after the second touch the price has printed a cup where the handle in process of making, from the end of handle we expect third touch of raising trendline where we'll enter our buying positions for our clients.
The entry zone may be 1.33586 or 1.33523.
Target1
There'll be resistance around 1.34088 this will be first target for short time traders and BreakEven for long time traders.
Target 2
The 1.34994 area is next resistance for buyers once the first target is done.
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