USDCAD: Can We Break Level That's Been Hindering Price? #Forex
Traders,
Looks like we have a bullish scenario here. With the 20 moving average supporting on a trend line with hidden bull divergence. I think this could be a good potential long if we manage to break that long term resistance that has been able to stop price moving higher for so long. If oil continues down into next weeks trading, this will immediately add synergy to this trade.
For longer term investors of USDCAD, you're going to want to secretly hope for Oil to break below 2009 demand where USDCAD will pick up significant points and oil will plummet.
Best of luck,
Tom
-For personalised online tuition, or face to face trading tuition queries, contact me here on Tradingview, or, email me with the email address on my profile page. Thank you.
Looks like we have a bullish scenario here. With the 20 moving average supporting on a trend line with hidden bull divergence. I think this could be a good potential long if we manage to break that long term resistance that has been able to stop price moving higher for so long. If oil continues down into next weeks trading, this will immediately add synergy to this trade.
For longer term investors of USDCAD, you're going to want to secretly hope for Oil to break below 2009 demand where USDCAD will pick up significant points and oil will plummet.
Best of luck,
Tom
-For personalised online tuition, or face to face trading tuition queries, contact me here on Tradingview, or, email me with the email address on my profile page. Thank you.