USDCAD- 28Mar2022
On the daily/weekly, USDCAD broke below the triangle convincingly. However daily Stochastic and Fib confluence is at Support, we could expect a short-term bounce this week.
On the H4, price went lower continuously w/o a bounce after breaking below the triangle pattern. It has now achieved its triangle downside target at around 1.2480. With Fib confluence support + H4 Stochastic is indicating negative bullish divergence + DXY strengthening today, we could expect a short-term bounce to 1st Resistance at 1.25750.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily/weekly, USDCAD broke below the triangle convincingly. However daily Stochastic and Fib confluence is at Support, we could expect a short-term bounce this week.
On the H4, price went lower continuously w/o a bounce after breaking below the triangle pattern. It has now achieved its triangle downside target at around 1.2480. With Fib confluence support + H4 Stochastic is indicating negative bullish divergence + DXY strengthening today, we could expect a short-term bounce to 1st Resistance at 1.25750.
This is for personal record purposes only, not financial advise or solicitation of trade.