USDCAD - The pair is approaching an important support, active since February 1, 2015, from this date the lateralization process began.
From 1 March 2020 a bearish trend began from which the pair has not yet emerged. This could be a new reversal area towards new bullish moves.
H4 - Timeframe Analysis
It possible notice different shadows generated as the pair continues to bounce repeatedly on the support, temporarily rejecting a new area/value.
We may soon see a trend reversal.
Remember, this analysis refers to current market conditions, which may change in the future. The analysis in question is for educational purposes only, and is a personal opinion of the author.
Therefore, the analyzes, published articles and any other information are purely informative and do not in any way constitute financial advice, either individual or collective, nor do they constitute a solicitation of public savings, consequently all the contents listed above and reported below are to be understood as pure and simple personal opinions of the authors and educators, of free interpretation. Each user will use the information provided in this communication under their own responsibility and therefore it is reiterated that the author is relieved of all responsibility, for direct or indirect damages resulting from the use of the information, indications, links and contents. Trading carries a high risk of losing money. Any information is for informational and educational purposes only.
Shared operation does not constitute a guarantee of profits or winnings and the use of each shared input is at the reader risk.
_______
Stefano Leonardi
From 1 March 2020 a bearish trend began from which the pair has not yet emerged. This could be a new reversal area towards new bullish moves.
H4 - Timeframe Analysis
It possible notice different shadows generated as the pair continues to bounce repeatedly on the support, temporarily rejecting a new area/value.
We may soon see a trend reversal.
Remember, this analysis refers to current market conditions, which may change in the future. The analysis in question is for educational purposes only, and is a personal opinion of the author.
Therefore, the analyzes, published articles and any other information are purely informative and do not in any way constitute financial advice, either individual or collective, nor do they constitute a solicitation of public savings, consequently all the contents listed above and reported below are to be understood as pure and simple personal opinions of the authors and educators, of free interpretation. Each user will use the information provided in this communication under their own responsibility and therefore it is reiterated that the author is relieved of all responsibility, for direct or indirect damages resulting from the use of the information, indications, links and contents. Trading carries a high risk of losing money. Any information is for informational and educational purposes only.
Shared operation does not constitute a guarantee of profits or winnings and the use of each shared input is at the reader risk.
_______
Stefano Leonardi