usd-cad-1hDown trend has started in 1 hour chart of USD/CAD currency pair. Vital resistance is present at 1.3353 price level. In my judgement, price is going to rise up to complete Wave B or 2 and then expect a top and a drop in USD/CAD price. Market is most likely going to move down to hit 1.3060 price level in coming trading days. If price close a bullish candlestick above 1.3353 price level then down trend is going to end. In that case I will re-analyze the price action of USD/CAD currency pair.

FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.