USDCAD Reversal in Trend.
Potential Double Bottom formation on 4hr and Daily chart is in process.
As far as prices are above 1.28, A jump towards 1.40 is likely.
Oil fallen below Daily Rising Trendline.
As far as prices are above 1.28, A jump towards 1.40 is likely.
Oil fallen below Daily Rising Trendline.
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Oil chart.Nota
There is a possibility of break of double bottom today.. trade with care at your own risk..!!!Nota
As said earlier.. we can see break of double bottom.. so market plunged down and tested lows of 1.28.. and jumped up..I will remain bullish on usdcad untill and unless we see daily close below 1.28. Daily close below 1.28 would suggest renewed downtrend and uptrend in oil.
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Simple structure... no need to mention anything.. Nota
Daily close above 1.318 with break of 1.322 will be very positive for usdcad bulls that can potentially lead for 1.34 and 1.37
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