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Usdcaddaily

USDCAD Technical Analysis And Trade Idea Recently, the USDCAD has demonstrated a strong downward trend, touching a significant support level on both daily and weekly charts. In the accompanying video, a detailed examination of this trend is presented, carefully analysing price movements and identifying possible trading opportunities through a thorough analysis across multiple timeframes, ranging from weekly to as short as 15 minutes. Anticipate a comprehensive review covering price variations, market trends, trend evaluations, and crucial technical analysis components. It's crucial to emphasize that the information shared here is purely for educational purposes and should not be considered as financial advice.
Short
by tradingwithanthony
USDCAD: Thoughts and AnalysisToday's focus: USDCAD Pattern – LH Resistance Point Support – 1.3441 Resistance – 1.3515 Hi, and thanks for checking out today's analysis. The USDCAD daily is today's focus, and it held up rather well after oil blasted higher yesterday. With the USD maintaining its run, this has kept things in check. Despite that, we still saw a failed high from buyers that have maintained a level of resistance. Will we see sellers continue to push after yesterday's session? If they can, we will look to support as a point of short-term resistance. A new move higher by buyers is also part of the play due to the last rally. With a break above resistance with the USD and oil supporting, we will look towards longs. A hold by sellers, look more for moves back down to test support and or the main trendline. Indicator-wise, the moving average continues to slope down, and the RSI has dipped below the 50 point. These favour sellers but are secondary to price. Good trading.
by Eightcap