USDCAD Analysis March 6, 2022
On the weekly timeframe we can see that price is just bouncing between the 1.26000 level and the 1.29000 level. This range gives us a good idea of where we will be trading within. Overall on the weekly we have been pretty bullish.
On the h4 timeframe price broke to the downside to retest the lower support level then bounced up immediately. Now we will be expecting more downside movement. I used the line tool to demonstrate how I predict price will move. We just retested the previous LH and there could be more downside movement to come from this exact area.
On the h4 timeframe price broke to the downside to retest the lower support level then bounced up immediately. Now we will be expecting more downside movement. I used the line tool to demonstrate how I predict price will move. We just retested the previous LH and there could be more downside movement to come from this exact area.
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