Yesterday I draw attention to a potential double top for UsdCad.
Indeed, after an anemic and short-lived rally to 1.3584, the pair broke under the neckline's support and dropped like a stone after.
At the time of writing the price is 1.3440 and in the eventuality of a correction, this should be used as a selling opportunity.
In conclusion, I remain strongly bearish UsdCad, and rallies (if they will exist) towards 1.35 should be sold.
Neck-line support is now resistance and should offer us a point of negation and the target is 1.33 zone support
Indeed, after an anemic and short-lived rally to 1.3584, the pair broke under the neckline's support and dropped like a stone after.
At the time of writing the price is 1.3440 and in the eventuality of a correction, this should be used as a selling opportunity.
In conclusion, I remain strongly bearish UsdCad, and rallies (if they will exist) towards 1.35 should be sold.
Neck-line support is now resistance and should offer us a point of negation and the target is 1.33 zone support
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.