$USDCAD| Pennant Formation Brewing
Key Points
USDCAD on the 4hr chart is slowly retracing & may revisit the support levels of $1.2727 levels.
*However, on the daily chart, the trend is still bullish as supported by the 28EMA being above the 49EMA
*Also, on the daily chart, upside momentum maybe building due to the moves above the longer term trend line connecting both troughs of Sept 2017 and Feb 2018.
*On the flip side, the daily chart also shows, a flag formation pattern, as seen by the shorter term declining trend line connecting the peaks set in May 2017, and March 2018.
*On the daily,USDCAD resistance levels are seen as follows : $1.2815 & $1.2935, while support levels are seen at : $1.2727 & $1.2625 followed by a deeper level at $1.2463.
USDCAD on the 4hr chart is slowly retracing & may revisit the support levels of $1.2727 levels.*However, on the daily chart, the trend is still bullish as supported by the 28EMA being above the 49EMA
*Also, on the daily chart, upside momentum maybe building due to the moves above the longer term trend line connecting both troughs of Sept 2017 and Feb 2018.
*On the flip side, the daily chart also shows, a flag formation pattern, as seen by the shorter term declining trend line connecting the peaks set in May 2017, and March 2018.
*On the daily,
USDCAD resistance levels are seen as follows : $1.2815 & $1.2935, while support levels are seen at : $1.2727 & $1.2625 followed by a deeper level at $1.2463.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.