Inside Bar on USD/CAD

inside-bar-usdcad-2019-09-09

The bearish sentiment is prevailing on the USD/CAD currency pair. The current technical pattern signals a further fall in quotes. Some classical patterns of Price Action, Inside Bar, (H4 timeframe) have been formed in the trading instrument, which at the moment are the formations of the continuation of the downward trend. Loonie is testing local support for 1.31500. We recommend paying attention to this situation.

If the price fixes below 1.31500, the USD/CAD sales should be considered. The immediate goal for profit-taking is the round level of 1.31000. In the medium term, the trading instrument may reach 1.30450-1.30200. Confirmations and market entry points must be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex, 2019.09.09

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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