USDCAD had given a breakout from the falling trendline. Recently, it took a hit from the so-called resistance zone forming a double top pattern.The bearish candles formation near the top indicates a trend reversal.
We are expecting the price rejection from double top and a fall may happen. Long positions can only be taken above the resistance zone.
Manage your trades accordingly.
We are expecting the price rejection from double top and a fall may happen. Long positions can only be taken above the resistance zone.
Manage your trades accordingly.
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.