I’m going to work backwards here as there’s a range that remains in-play, which has been incredibly clean, but there may be something more important showing on the longer-term chart that I’ll get into after.
Near-term, the range remains strong in USD/CAD with continued support at the same 2622-2672 zone that I’ve been following throughout last year. Prices are now nearing the resistance side of that range, and that can keep the door open for near-term mean reversion strategies.
USD/CAD on a longer-term basis looks more prone to bearish breakouts to me. Prices have repeatedly beat that Resistance zone with sellers pushing right back for the past three weeks. So, to couple with the range looked at downside, a breach of support around 1.2660 could open the door for breakouts while also nullifying the mean-reversion strategy investigated on the shorter-term chart.
Near-term, the range remains strong in USD/CAD with continued support at the same 2622-2672 zone that I’ve been following throughout last year. Prices are now nearing the resistance side of that range, and that can keep the door open for near-term mean reversion strategies.
USD/CAD on a longer-term basis looks more prone to bearish breakouts to me. Prices have repeatedly beat that Resistance zone with sellers pushing right back for the past three weeks. So, to couple with the range looked at downside, a breach of support around 1.2660 could open the door for breakouts while also nullifying the mean-reversion strategy investigated on the shorter-term chart.
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Close Breakeven Due to Bullish Momentum
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.