The USD/CAD pair is moving somehow sideways after failing to approach and reach the 1.3178 former low again. Personally, I’ve drawn a minor uptrend line which represents a downside obstacle. As long as it stays above it, the rate could jump higher.
From the technical point of view, the former high of 1.3240 represents an upside obstacle and target.
USD/CAD Trading Conclusion!
Jumping and stabilizing above 1.3240 activates a larger growth and is seen as a buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
USD/CAD Potential Reversal!
The USD/CAD pair is moving somehow sideways after failing to approach and reach the 1.3178 former low again. Personally, I’ve drawn a minor uptrend line which represents a downside obstacle. As long as it stays above it, the rate could jump higher.
From the technical point of view, the former high of 1.3240 represents an upside obstacle and target.
USD/CAD Trading Conclusion!
Jumping and stabilizing above 1.3240 activates a larger growth and is seen as a buying opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
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