RhysFX

USD/CAD BREAKOUTS! ( NEUTRAL 1.34200 or 1.31900)

FX:USDCAD   USA-dollar/Kanadensisk dollar
My BIAS for USD/CAD for this upcoming week is NEUTRAL.



My reasoning behind this is

-We are currently consolidating between 1.33400 & 1.31900.
-We have just rejected a strong level of Daily Resistance and broke down about 50% of the current distance between our Daily Resistance and our strong 4HR Support.

-We could see a break above our Daily Resistance followed by a retest with targets of 1.34200 at our previous Daily Resistance.
-We could also see a break below our 4HR Support with targets of 1.31900 at our previous Daily Support.


I will not be taking this trade until I see one of these breakouts.





Like & Follow for future updates and analysis.
Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.