Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Wednesday, October 25 2023.
October 25, 2023 5:25 am
Based on what appears on its 4 hour chart of USD/CAD commodity currency pairs, we can see that The Loonie is in the middle of ranging Sideways condition. However, by the appearance of the deviation between price movement with Stochastic Oscillator indicator as well as Ascending Broadening Wedge pattern that has detected, USD/CAD has the potential to depreciate down in the near future up to the level of 1,3660 as the main target and level 1,3603 as the second target. But if on the way to those level suddenly USD/CAD corrected above the level 1,3762, then all the downward scenario that has been described before will be cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Based on what appears on its 4 hour chart of USD/CAD commodity currency pairs, we can see that The Loonie is in the middle of ranging Sideways condition. However, by the appearance of the deviation between price movement with Stochastic Oscillator indicator as well as Ascending Broadening Wedge pattern that has detected, USD/CAD has the potential to depreciate down in the near future up to the level of 1,3660 as the main target and level 1,3603 as the second target. But if on the way to those level suddenly USD/CAD corrected above the level 1,3762, then all the downward scenario that has been described before will be cancel itself.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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