Retracement End in USD/CAD

2019-11-19 19:26:44

Hi guys, here is my analysis about OANDA:USDCAD.

We can easyly see, thanks to a trendline, a strong bull impulse started in 19th October.
At the moment the trendline has been broken by what I think is a normal retracement, we can see it thanks to a trendline too.

The retracement toutched the SMA(200) in the 4H chart and the EMA(25) in the 1D day chart.
These are strong dynamic supports, I think that the price wont go bellow them and this means that the price is ready to broke the trendline.

Targets for this trade are 2:

Resistance 1 at 1.32653;
Resistance 2 at 1.33373.


To get in I will wait for confirmation in lower timeframes.

For any question or suggestion, comment below.
Thanks for reading.