Hi Traders. USDCAD has been in a relatively choppy market recently, if you look at it on a broader perspectives, market has been in a range bound condition since 2015.
Previous price attempted multiple times to break above 1.30 - 1.3030, on 14th July when price finally broke above but faced immediately failure plummeted back below 1.30.
From all these small pieces of information, it gives us a clue that probably sellers' are in control, so its best to avoid buying until the 1.30 key resistance is broken above.
Short-term wise, the only are where I'll be looking for selling opportunity is probably 1.2940 - 1.2950, apart from that there's really not much opportunities lying around as Price Action is messy.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
Previous price attempted multiple times to break above 1.30 - 1.3030, on 14th July when price finally broke above but faced immediately failure plummeted back below 1.30.
From all these small pieces of information, it gives us a clue that probably sellers' are in control, so its best to avoid buying until the 1.30 key resistance is broken above.
Short-term wise, the only are where I'll be looking for selling opportunity is probably 1.2940 - 1.2950, apart from that there's really not much opportunities lying around as Price Action is messy.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
