USDCAD - Consolidating more?
USDCAD is an interesting one.
We have a thriving Canadian Dollar (as per showing on CXY H4) which approaches resistance levels on Daily. USDCAD has been consolidating for more than a month and a half. Should we get a strong rejection and a close above the bottom of the consolidation area, I wouldn't be surprised to see price return. The DXY should gain value over the next few weeks as measures to relieve Covid-19's economic impact is slowly beginning throughout the US.
Targets based on structure on both SL and TP.
This is an analysis, not a signal. Feel free to like and follow for more analysis!
BluemindRichard
We have a thriving Canadian Dollar (as per showing on CXY H4) which approaches resistance levels on Daily. USDCAD has been consolidating for more than a month and a half. Should we get a strong rejection and a close above the bottom of the consolidation area, I wouldn't be surprised to see price return. The DXY should gain value over the next few weeks as measures to relieve Covid-19's economic impact is slowly beginning throughout the US.
Targets based on structure on both SL and TP.
This is an analysis, not a signal. Feel free to like and follow for more analysis!
BluemindRichard
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.