LONG USDCAD

11 thg 7, 2022

As can be seen in the USDCAD chart, the price is moving in the channel drawn in daily time frame. In this channel, the price has attacked the resistance drawn at the level of 1.3080 three times, but has not been able to cross it. We are currently waiting to see how the reaction to the new move will be. If this level is broken, it can even be expected that the price will break the movement channel in which it has been moving for a long time and start a new upward movement. On the other hand, if the drawn tr1 trend line returns and is broken, it warns of the movement of the bottom of the channel. Therefore, to enter the LONG position, the most important level is the breaking of the top of the channel, and if the tr1 trend line is broken, we decide to short .