The USD/CAD currency pair has started declining after a prolonged rally. The current technical pattern signals further correction of the USD/CAD quotes. A classic pattern of Price Action, Bearish Engulfing, has been formed in the trading instrument (D1 timeframe), which indicates the bearish sentiment. A confirmation signal is the Flag figure on the 4-hour chart. At the moment, the USD/CAD currency pair is testing the round level of 1.32000. We recommend paying attention to this situation.
If the price fixes below 1.32000, you need to consider selling USD/CAD. In the medium term, Loonie could reach the key demand zone of 1.31000-1.30200. Confirmations and entry points to the market should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.
by , 2019.01.28
Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.
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