Today we have one for the trend traders on a Daily chart with USD/CAD.
Straight away you can see price has created several levels of support and resistance, key pivot points in the market. We are currently trading below the 200 EMA which I consider a major confirmation for a trend reversal, if we start trading above it this setup would be considered invalid.
There are a lot of picture perfect opportunities forming on the lower time frames, we just need to be patient for now. If you have any additional analysis on this pair feel free to share it below!
Straight away you can see price has created several levels of support and resistance, key pivot points in the market. We are currently trading below the 200 EMA which I consider a major confirmation for a trend reversal, if we start trading above it this setup would be considered invalid.
There are a lot of picture perfect opportunities forming on the lower time frames, we just need to be patient for now. If you have any additional analysis on this pair feel free to share it below!
📈 Master the Art and Science of Trading: www.sixfigurecapital.com
