Today, I am looking at USDCAD. It looks like price has found some solid support at 1.2400.
The daily candlestick formation is a bullish engulfing pattern. It is a quite strong confirmation, since the engulfing candle is covering the previous two bearish candles.
The next resistance level is at 1.2650 and after that the level of 1.2900 stands as a strong barrier for the buyers.
I will be looking for a potential buy if price retraces back to 1.2500 and price action confirms this level.
Until then, I will be patiently waiting.
The daily candlestick formation is a bullish engulfing pattern. It is a quite strong confirmation, since the engulfing candle is covering the previous two bearish candles.
The next resistance level is at 1.2650 and after that the level of 1.2900 stands as a strong barrier for the buyers.
I will be looking for a potential buy if price retraces back to 1.2500 and price action confirms this level.
Until then, I will be patiently waiting.
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.