USDCAD Will Go Lower From Resistance! Sell!
Aggiornato
Please, check our technical outlook for USDCAD.
Time Frame: 12h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 1.362.
The above observations make me that the market will inevitably achieve 1.356 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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Nota
Great beginning for a trade, let’s hope it goes further!
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🔝Best Broker: icmarkets.com/trading-markets/forex/?camp=51166
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