USDCAD formed a head and shoulders after a false breakdown of key resistance. It was at this point that the dollar began to weaken and led the currency pair to test the local bottom at 1.30900
TA on the high timeframe:
1) A false break of resistance sends the price to support at 1.3138
2) Since the forex market is flat more than 70% of the time, the price is likely to form a false break of support and start to strengthen
TA on the low timeframe:
1) A false breakout is forming against the local support at 1.31179. A rebound to the resistance is possible
2) Fibo levels can also serve as a magnet for correction.
3) There are high chances of flat formation, the price may form a rebound before further fall.
Key support📉: 1.31179
Key resistance📈: 1.31776
TA on the high timeframe:
1) A false break of resistance sends the price to support at 1.3138
2) Since the forex market is flat more than 70% of the time, the price is likely to form a false break of support and start to strengthen
TA on the low timeframe:
1) A false breakout is forming against the local support at 1.31179. A rebound to the resistance is possible
2) Fibo levels can also serve as a magnet for correction.
3) There are high chances of flat formation, the price may form a rebound before further fall.
Key support📉: 1.31179
Key resistance📈: 1.31776
❤️ Telegram channel: t.me/AndeWave
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❤️ Telegram channel: t.me/AndeWave
相关出版物
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。