Looking at the weekly timeframe for USDCAD, we can see that price action has respected a rising trendline and also reacted to a weekly bullish order block.
The Sell momentum for USDCAD has come to an end, so now we saw price action accumulating around the rising trend line and bullish order block.
Now there's a minor resistance which is indicated with a small blue rectangle in which price action has broken to the upside, I'm expecting price to complete an impulse correction leg or retrace to the blue rectangle or minor resistance and then from there continue to the upside.
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Please share your thoughts on this analysis, do you think the downward trend is over.
The Sell momentum for USDCAD has come to an end, so now we saw price action accumulating around the rising trend line and bullish order block.
Now there's a minor resistance which is indicated with a small blue rectangle in which price action has broken to the upside, I'm expecting price to complete an impulse correction leg or retrace to the blue rectangle or minor resistance and then from there continue to the upside.
........,...,.............................................
Please share your thoughts on this analysis, do you think the downward trend is over.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.