Greetings family, lets break down the analysis on what i see on USDCAD. Lets look at the macro first.
I can see that on a weekly chart, the pair has overall uptrend. However, we can see that the pair has broke the trendline.
Below i can see that the price has formed the “support” which acting as “resistance”, this gives so much confirmations to traders where majority are likely to sell. Thus, i believe the pair has more potentials to go up.
PLEASE USE THIS ANALYSIS AS A GUIDE TOOL FOR YOUR TRADING.
ALWAYS USE STOPLOSSES AND PROPER MONEY MANAGEMENT.
JOIN FOREXIA ACADEMY TO LEARN MORE ABOUT MARKET MANIPULATIONS .