USDCAD Analysis 1/7/19

30 Jun 2019

H4 Chart


D1 chart


1/7/19 Daily bearish at support & weekly trendline
H4 also bearish but shows candle rejection near the daily support & trendline area.

Potential price will react stronger to the upside since it is nearing the daily support.

Buying will be aggressive at this area. Wait for confirmation.

1 Jul 2019

Nota

Update: Added trendline which shows confluence with the current overview & increases the probability for both boxes.

Patiently waiting for confirmation is KEY.

8 Jul 2019

Nota

D1


H4


95p movement

No trade as price did not go into the trading zone area (lower yellow box) but instead reacted on the prev resistance area (red box).

It is possible because price has already reacted at the yellow box before at D1/H4 lvl, after the breakout price then test the nearest H4 resistance instead that at the same lvl as the next nearest resistance/support at D1.