USDCAD (Student Exercise)
Monthly: Price recovering from previous bearish feeling.
Weekly: Bullish direction, respecting trend line, unlikely change in direction at this stage.
Weekly resistance - Fib 0.6198 at 1.3168, likely to test, unlikely to break.
Daily: Price likely to test the level showed in the weekly.
4H: Bullish candles, however not much money in the market at this stage.
Strong indication that the price will close near of the weekly resistance
Overall the price respecting the direction in all the time frames. Value in this setup.
Next week possible re-test of trend and aim to 1.32400 and, more difficult, level 1.33200
Weekly: Bullish direction, respecting trend line, unlikely change in direction at this stage.
Weekly resistance - Fib 0.6198 at 1.3168, likely to test, unlikely to break.
Daily: Price likely to test the level showed in the weekly.
4H: Bullish candles, however not much money in the market at this stage.
Strong indication that the price will close near of the weekly resistance
Overall the price respecting the direction in all the time frames. Value in this setup.
Next week possible re-test of trend and aim to 1.32400 and, more difficult, level 1.33200
Kommentera:
I am new in the market, any idea please comment, thank you.