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Trading Idea - USD/CAD, 26-02-2021
Trading Signal: USDCAD
| Order | Buy |
| Direction | Bullish |
| Pattern | Resistance Test |
| Interval | 4 hours |
| Length (Candles) | 156 |
Idea Summary
Medium term USDCAD forecast is bullish. The technical analysis of the USDCAD chart in 4-hour timeframe reveals the USDCAD pair is retracing down. The pair is declining after a failed test of resistance line. EURCAD is expected to breach the resistance line and continue rising after the successful breach. There is a smaller likelihood USDCAD might fail again, declining further.
Note:
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