TAKE NOTE- ANALYSIS ON USDCAD

FREE ANALYSIS ON USDCAD


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4 HOUR

USDCAD is making a pull back to the previous support level (now turned resistance) on the trend-line break at 1.33000, which is also a nice psychological level.

Things to consider:

1. Watch out out for the Zones as prices dropping below them will give signal for more downward move.
2. On the DAILY chart price is testing the 200MA level, this could confirm the downward continuation.
3. Watch out for the breaks in the trend line for more SELL opportunities.
4. Stoch RSI also making a bearish divergence.

Wait for break in trend line for sell down.

OVERALL
Expecting more downward momentum.

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Thanks for reading

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