Right...Let's look at the bigger picture!
Loonie CAD - Technicals - Weekly:
Strong Bullish channel since 2017 - Been holding up well.
Yellow line - from past triangle formation - Finding nice area of support.
200 EMA (GREEN) - Again been respected.
We are struggling to pass the 200 EMA - as well as the key support areas of the channel, there might be a possibility of a pull back towards 1.34 half areas to 1.35 areas. We've had strong bear action occurring. However, pull back might be due till we decline further - However, be aware key trend-line areas from the past occurring and the 200 EMA - until we are not below the 200 EMA - the bulls could gain back into control.
Things to keep in mind - Seasonality, add alerts to 200 EMA or key trend-line/channel areas as we are at support until it's broken! Long term time frame, indicates shorter time frame movement.
Enjoy - Have a great week ahead.
Remember: Just an idea, not a recommendation.
Loonie CAD - Technicals - Weekly:
Strong Bullish channel since 2017 - Been holding up well.
Yellow line - from past triangle formation - Finding nice area of support.
200 EMA (GREEN) - Again been respected.
We are struggling to pass the 200 EMA - as well as the key support areas of the channel, there might be a possibility of a pull back towards 1.34 half areas to 1.35 areas. We've had strong bear action occurring. However, pull back might be due till we decline further - However, be aware key trend-line areas from the past occurring and the 200 EMA - until we are not below the 200 EMA - the bulls could gain back into control.
Things to keep in mind - Seasonality, add alerts to 200 EMA or key trend-line/channel areas as we are at support until it's broken! Long term time frame, indicates shorter time frame movement.
Enjoy - Have a great week ahead.
Remember: Just an idea, not a recommendation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.