Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.3275). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. The RSI is at 37 .
Take Profits:
TP1= @ 1.3180
TP2= @ 1.3125
TP3= @ 1.3015
SL: Break Above R2
. There is still a possibility of temporary retracement to suggested resistance line (1.3275). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. The RSI is at 37 .
Take Profits:
TP1= @ 1.3180
TP2= @ 1.3125
TP3= @ 1.3015
SL: Break Above R2