Good morning traders, today we bring you an analysis on the weekly chart of the USD/CAD pair.
🔸As we can see, the price is on a steep downside move that started in early 2020 and has not stopped yet.
🔸At this time, the price is breaking the key level of 1.2500.
🔸The next price stop zone is at 1.23000, however this is a minor support. The key zone, where there is a high possibility of reversal, is at 1.2100.
🔸What we consider safe to wait is a clear close of a daily candle below the zone, and then some corrective pattern that gives us a good R/R ratio. Something similar to what we indicate in the image below:
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.