"Trade Idea" on USDCAD by ThinkingAntsOk
1H CHART EXPLANATION:
The main items we observe in the Chart are:
- Price is currently on a range, between an important Support Zone and Resistance Zone.
- Bullish Divergence on MACD.
- Price bounced on the Support Zone and is trying to go up.
Based on this, if price breaks the Descending Trendline at 1,3435, it has potential to move up towards the Resistance Zone at 1,3505.
Updates coming soon!
Take a look at the context of the trade in our Top and Bottom Analysis on USDCAD in the Related Ideas !
The main items we observe in the Chart are:
- Price is currently on a range, between an important Support Zone and Resistance Zone.
- Bullish Divergence on MACD.
- Price bounced on the Support Zone and is trying to go up.
Based on this, if price breaks the Descending Trendline at 1,3435, it has potential to move up towards the Resistance Zone at 1,3505.
Updates coming soon!
Take a look at the context of the trade in our Top and Bottom Analysis on USDCAD in the Related Ideas !
Order cancelled
Setup cancelled because the price broke the Support Zone.
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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.
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.