Trend analysis USDCAD 13.06.12
USDCAD
On the 4-hour chart:
The pair continues to decline within the descending channel between the lines 1 and 2 along the resistance. The pair, which has reached the support level 1.0268, started the testing. The moving averages are considering the weak descending tendency.
On the 1-hour chart:
The pair is trying to foothold below the level 1.0268, but the support level 1.0249 is affecting on the price dynamics. The lines 1 and 2 could describe the current descending channel. The moving averages are suggesting the flat dynamics. We could assume the forming of the triangle, if draw the lines 3 and 4.
On the 15-minute chart:
The pair started the growth after the rebound from the support line 1. The closest level from the top is 1.0268, but the price has not been confirmed it as a resistance. Since the fact that pair is moving within the last quarter of the plausible triangle, do not wait for the intensive dynamics after the breaking through its borders. Recommendation: close the position with the minimum loss and wait for the clear tendency.
USDCAD
On the 4-hour chart:
The pair continues to decline within the descending channel between the lines 1 and 2 along the resistance. The pair, which has reached the support level 1.0268, started the testing. The moving averages are considering the weak descending tendency.
On the 1-hour chart:
The pair is trying to foothold below the level 1.0268, but the support level 1.0249 is affecting on the price dynamics. The lines 1 and 2 could describe the current descending channel. The moving averages are suggesting the flat dynamics. We could assume the forming of the triangle, if draw the lines 3 and 4.
On the 15-minute chart:
The pair started the growth after the rebound from the support line 1. The closest level from the top is 1.0268, but the price has not been confirmed it as a resistance. Since the fact that pair is moving within the last quarter of the plausible triangle, do not wait for the intensive dynamics after the breaking through its borders. Recommendation: close the position with the minimum loss and wait for the clear tendency.