Recently, the USD/CAD pair has been trading upwards. The price tested the level of 1.3023. According to the H1 time – frame, I found a rejection of the support trendline, which is a sign that selling looks risky and that buyers are in control. I also found a broken bullish flag pattern in the background, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.3120.
Resistance levels:
R1: 1.3019
R2: 1.3045
R3: 1.3068
Support levels:
S1: 1.2970
S2: 1.2950
S3: 1.2920
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the USD/CAD pair has been trading upwards. The price tested the level of 1.3023. According to the H1 time – frame, I found a rejection of the support trendline, which is a sign that selling looks risky and that buyers are in control. I also found a broken bullish flag pattern in the background, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward target is set at the price of 1.3120.
Resistance levels:
R1: 1.3019
R2: 1.3045
R3: 1.3068
Support levels:
S1: 1.2970
S2: 1.2950
S3: 1.2920
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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