We have here orange lines of the major trend-channel (orange lines). Study the cases, when USDCAD did bounce with orange lines (I used green arrows to outline reversals).
Note:
- Christmas Trap in 2018. Price made the fake breakout but reversed down in January/2019.
- Christmas Trap in 2019. Price made the fake breakdown but reversed up in January/2020.
- The recent indication in volume is bullish - this is No_Supply arrow (diminishing volume amid a decline in price). A lack of traders wants to buy CAD. That is why the current movement has a bullish power.
In the global view, I project a long-time target around 1.37.
Note:
- Christmas Trap in 2018. Price made the fake breakout but reversed down in January/2019.
- Christmas Trap in 2019. Price made the fake breakdown but reversed up in January/2020.
- The recent indication in volume is bullish - this is No_Supply arrow (diminishing volume amid a decline in price). A lack of traders wants to buy CAD. That is why the current movement has a bullish power.
In the global view, I project a long-time target around 1.37.
Supply And Demand Trading .com
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Supply And Demand Trading .com
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.