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Technical Analysis
USDCAD: Moving with Momentum
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[QUOTE="sharabela, post: 213156, member: 39507"] USDCAD has been bullish in the H4 chart. The price has been moving towards the North by obeying an up trending trend line. The buyers may wait for the price to make a bearish correction and produce a bullish reversal at the trend line’s support. The H4 chart shows that the price has enough space to move towards the North. Thus, it may attract more buyers to go long in the pair and push the price towards the upside with good bullish momentum. The price may find its next resistance around 1.35700. On the other hand, the sellers must be patient. They may want to wait for the price to make an explicit bearish breakout at the trend line to find short opportunities. As things stand with the pair, it is less likely to happen. Considering both charts, it seems the Bull may dominate in the pair for some days.[ATTACH type="full"]22649[/ATTACH] [/QUOTE]
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