Recently, the USD/CAD pair has been trading downwards. The price tested the level of 1.3446. Anyway, according to the M30 time – frame, I have found that price rejected from the lower Keltner band (support, 2.5 standard deviations), which is a sign that USD/CAD went to the oversold zone. I also found that price stopped exactly at Fibonacci expansion 161.8% at the level of 1.3446, which is another sign that USD/CAD went into the intraday oversold zone. My advice is to watch for buying opportunities. The upward target is set at the price of 1.3500.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the USD/CAD pair has been trading downwards. The price tested the level of 1.3446. Anyway, according to the M30 time – frame, I have found that price rejected from the lower Keltner band (support, 2.5 standard deviations), which is a sign that USD/CAD went to the oversold zone. I also found that price stopped exactly at Fibonacci expansion 161.8% at the level of 1.3446, which is another sign that USD/CAD went into the intraday oversold zone. My advice is to watch for buying opportunities. The upward target is set at the price of 1.3500.
The material has been provided by InstaForex Company – www.instaforex.com
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