USD/CAD
continued falling and eventually reached and broke below the support levels at
1.3850 and then the one at 1.3690. In my opinion the pair is headed for the
next level of support at 1.3600. More importantly, the monthly time-frame
reveals a shooting star candlestick that has formed right below the resistance
at 1.4700. Under these circumstances, can we talk about a reversal of the
bullish trend? I think that is quite possible. If that is indeed the case, then
the move to the downside will continue for the foreseeable future, possibly
towards the support at 1.2600.
Very useful analysis, thank you.
ReplyDeleteGreat analysis, thank you for sharing.
ReplyDeleteHelpful article, thank you.
ReplyDeleteA pullback before another upward move.
ReplyDeleteI agree with your point.
ReplyDelete