The 4-hour chart of USD/CAD is in a consolidation phase after a strong uptrend.
The pair is now hovering around multiple resistance points- one created by the GANN FAN and the other by price action.
It is also facing rejections at higher value. So we can expect a bearish move from here.
On the contrary if it breaks the resistance then it can move up to the previous high
The pair is now hovering around multiple resistance points- one created by the GANN FAN and the other by price action.
It is also facing rejections at higher value. So we can expect a bearish move from here.
On the contrary if it breaks the resistance then it can move up to the previous high
Trade closed: target reached
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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.