USDCAD Is Very Bullish! Long!

23 janv.

Here is our detailed technical review for USDCAD.

Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish

The price is testing a key support 1.438.

Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 1.450 level.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.

Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!

1 févr.

Trade fermée: cible de profit atteinte

That was an excellent trade and the target was reached too!