USDCAD / H4 / Daily Forex Technical Analysis / 4.10.2019

10 Apr 2019

Hello Traders, welcome to the DAILY Forex technical analysis. Today is April 10th, 2019 and we will be taking a look at the U.S.Dollar against the Canadian Dollar. Looking at the 4 hour time frame we can see consecutive lows throughout the current area of support near the 1.32951 levels. We can see price action have a beautiful bullish rejection of the 1.32951 support area. With that bullish bounce it may be possible to get a minor retrace closer to that area of support setting us up for what can be a trade within optimal conditions to be profitable. With an entry Long near the 1.33091 area, with a stop loss set near the 1.32803 area below the low of the bullish reversal. Targeting the 1.33668 profit level may ensure a profitable 2 to 1 R/R. We are so grateful to have you as an audience, please feel free to write a comment or leave feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!