Technical Analysis
The usdcad Pair has shown signs of bullish moment in the 4 Hour time frame , The pair is rejecting the support area and its showing signs of further longs in the daily and 4 hour timeframes. Take a look at the 4 Hour chart description below.
in the weekly timeframe l see the Pair approaching the resistance level, My trading plan is to wait for the pair to reach the weekly resistance and then wait for short confirmations.
I also the high negative correlation the usdcad pair has with the gbpusd pair , This is a good indicator that usdcad can reject the minor support and approach the major weekly resistance. Bear in mind the Gbpusd is rejecting minor resistance and has a high chance of moving towards major support. Trade what you see they say. Check out the negative correlation below.
Fundamentals
Price might continue going up to The resistance with Faster rate hikes coming up and the PCE report.
The usdcad Pair has shown signs of bullish moment in the 4 Hour time frame , The pair is rejecting the support area and its showing signs of further longs in the daily and 4 hour timeframes. Take a look at the 4 Hour chart description below.
in the weekly timeframe l see the Pair approaching the resistance level, My trading plan is to wait for the pair to reach the weekly resistance and then wait for short confirmations.
I also the high negative correlation the usdcad pair has with the gbpusd pair , This is a good indicator that usdcad can reject the minor support and approach the major weekly resistance. Bear in mind the Gbpusd is rejecting minor resistance and has a high chance of moving towards major support. Trade what you see they say. Check out the negative correlation below.
Fundamentals
Price might continue going up to The resistance with Faster rate hikes coming up and the PCE report.