UCad Weekly Analysis

23 giu 2018

Weekly: On a bigger perspective, the pair has just broken out of the weekly downtrend. After breaking the trendline, it makes an extended run to the upside before meeting resistance at key level 1.3325 region. The bullish momentum seems to be fading as a deeper correction is in play. The retest of key region 1.3 is needed to confirm whether the pair will reenter its downtrend or it will reject its to transition into a middle term uptrend. The downside target will be 1.3 & 1.28. On the flip side, if 1.3 manage to hold, it will target the upside at 1.33 & 1.35.
Bias
Long-term: Long
Short-term: Short