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
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.