USDCAD at Resistance Zone, await Reversal Pattern
USDCAD has reached an important zone after multiple higher low swings and now we have reached a major resistance zone of 1.3340-50.
For a reversal, we would like to see some sort of pattern here. Either some sort of fake out pattern, a double top, a prolonged range, or even a head and shoulder. We will wait for this pattern, and the key would be a break below the 1.3260 zone which is the swing we are playing with, and is a flip zone looking back.
If we do break below here with a pattern, then we shall await for a lower high swing which would ideally come from a retest from this break. We will target the 1.32 zone.
Check out my post on Oil as well. The Loonie has a correlation with oil, and we have a potential 4 hour set up for oil longs which could be a confluence for this USDCAD trade.
For a reversal, we would like to see some sort of pattern here. Either some sort of fake out pattern, a double top, a prolonged range, or even a head and shoulder. We will wait for this pattern, and the key would be a break below the 1.3260 zone which is the swing we are playing with, and is a flip zone looking back.
If we do break below here with a pattern, then we shall await for a lower high swing which would ideally come from a retest from this break. We will target the 1.32 zone.
Check out my post on Oil as well. The Loonie has a correlation with oil, and we have a potential 4 hour set up for oil longs which could be a confluence for this USDCAD trade.
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.