USDCAD Will Move Lower! Sell!

14 thg 10

Here is our detailed technical review for USDCAD.

Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The price is testing a key resistance 1.378.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 1.374 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

Like and subscribe and comment my ideas if you enjoy them!

15 thg 10

Ghi chú

I am confident in this trade so I will keep it open!