USDCAD Is Going Down! Sell!

2023年7月21日

Here is our detailed technical review for USDCAD.

Time Frame: 4h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is approaching a key horizontal level 1.317.

Considering the today's price action, probabilities will be high to see a movement to 1.310.

P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.

Like and subscribe and comment my ideas if you enjoy them!