SIMPLE trend analysis explaining why USDCAD market has reversed
Due to the previous trend analysis, the trend has been on an uptrend with Higher Lows and Higher highs formed.
the market showed signs of reversing when a lower high was formed at price 1.35731, marked by a dotted horizontal line.
Price then moved down and retraced back to the first zone on the chart. In the zone, price broke out the zone on the lower side , then retraced back up.
this signals a short move.
the market showed signs of reversing when a lower high was formed at price 1.35731, marked by a dotted horizontal line.
Price then moved down and retraced back to the first zone on the chart. In the zone, price broke out the zone on the lower side , then retraced back up.
this signals a short move.