Inside Bar on USD/CAD

Inside Bar on USD/CAD

The bearish sentiment prevails on the USD/CAD currency pair. On Friday, February 22, the trading instrument updated key lows. The Price Action method signals a further drop in the USD/CAD quotes. Near the local support level of 1.31200, some classic Inside Bar patterns (H1 timeframe) have been formed, which currently act as the continuation of the current trend. We recommend paying attention to this situation.

If the price fixes below the level of 1.31200, you need to look for entry points to the market to open short positions. The immediate goal for profit taking is the support level of 1.30800. The movement is tending to 1.30500-1.30200. When tracking positions, we recommend using a trailing stop.

by JustForex, 2019.02.25

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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