Inside Bar on USD/CAD

Inside Bar on USD/CAD

The current technical pattern indicates a possible correction of the USD/CAD currency pair after a fairly long fall. Near the "mirror" support of 1.26150 a number of Price Action classic patterns, Inside Bar (H4 timeframe), which currently act as reversal formations, have been formed. The local resistance is the level of 1.26500. We recommend you to pay attention to this situation.

If the price fixes above 1.26500, it is necessary to consider buying USD/CAD. The immediate goal of profit taking is the offer zone of 1.27000-1.27450. In the medium term, USD/CAD may reach a round level of 1.28000. Confirmations and entry points to the market should be looked for on lower timeframes. When following the positions, we recommend using a trailing stop.

by JustForex, 2018.04.19

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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