USDCAD- 02Mar2022
On the daily, price dropped back to the previous demand zone around 1.26640
On the H4, price have dropped back into the consolidating channel. Its market structure have changed to lower highs and lower lows for the last 2 days. However on H1, price is consolidating above the descending trendline to bounce higher. If USDCAD can bounce above previous lower highs at 1.12810, we could expect it to resume its uptrend.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily, price dropped back to the previous demand zone around 1.26640
On the H4, price have dropped back into the consolidating channel. Its market structure have changed to lower highs and lower lows for the last 2 days. However on H1, price is consolidating above the descending trendline to bounce higher. If USDCAD can bounce above previous lower highs at 1.12810, we could expect it to resume its uptrend.
This is for personal record purposes only, not financial advise or solicitation of trade.
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