Retracement End in USD/CAD
Updated
Hi guys, here is my analysis about 
USDCAD.
We can easyly see, thanks to a trendline, a strong bull impulse started in 19th October.
At the moment the trendline has been broken by what I think is a normal retracement, we can see it thanks to a trendline too.
The retracement toutched the SMA(200) in the 4H chart and the EMA(25) in the 1D day chart.
These are strong dynamic supports, I think that the price wont go bellow them and this means that the price is ready to broke the trendline.
Targets for this trade are 2:
To get in I will wait for confirmation in lower timeframes.
For any question or suggestion, comment below.
Thanks for reading.
USDCAD.We can easyly see, thanks to a trendline, a strong bull impulse started in 19th October.
At the moment the trendline has been broken by what I think is a normal retracement, we can see it thanks to a trendline too.
The retracement toutched the SMA(200) in the 4H chart and the EMA(25) in the 1D day chart.
These are strong dynamic supports, I think that the price wont go bellow them and this means that the price is ready to broke the trendline.
Targets for this trade are 2:
- Resistance 1 at 1.32653;
- Resistance 2 at 1.33373.
To get in I will wait for confirmation in lower timeframes.
For any question or suggestion, comment below.
Thanks for reading.
Trade closed: target reached
TP1 reached!
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