💱 USDCAD - Consolidation after rally. Preparing for a breakout
The USDCAD is rallying to 1.35000 and stopping to form a strong consolidation area. The probability of breaking through the resistance is increasing with each passing minute.
TA on high timeframe:
1) There is no clear trend. The price is in a sideways range. It is both buy and sell.
2) There is a rebound from the support area and the price tends to liquidity around 1.36500.
TA on the low timeframe:
1) Price makes a rally to 1.35000
2) No decline, price forms consolidation
3) Consolidation is price preparing to breakout
4) As there is no decline, further growth is expected after the breakthrough of the resistance at 1.34958
Key support: 1.34800, 1.34700
Key resistance: 1.38958, 1.35308
TA on high timeframe:
1) There is no clear trend. The price is in a sideways range. It is both buy and sell.
2) There is a rebound from the support area and the price tends to liquidity around 1.36500.
TA on the low timeframe:
1) Price makes a rally to 1.35000
2) No decline, price forms consolidation
3) Consolidation is price preparing to breakout
4) As there is no decline, further growth is expected after the breakthrough of the resistance at 1.34958
Key support: 1.34800, 1.34700
Key resistance: 1.38958, 1.35308
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