Bullish Engulfing on USD/CAD

Bullish Engulfing on USD/CAD

At the moment, bearish sentiment prevails on USD/CAD. Nevertheless, in the near future, we do not exclude a technical correction. Near the round level of 1.26000, a classic pattern of the Price Action "Bullish Engulfing" (H1 timeframe) was formed. The trading tool has updated local extremes. We recommend you to pay attention to this situation.

If the price fixes above the local resistance of 1.26450, you need to look for entry points to the market to open long positions. The closest goal for fixing profits is the "mirror" resistance level of 1.26800. In the medium term, the currency may reach the offer zone of 1.27500-1.27750.

by JustForex, 2017.08.17

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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