USDCAD#1 ---> Waiting time:
Good day, dear investors and colleagues traders!
Your attention a technical analysis of the currency pair #Usdcad:
* Commentary on the previous week:
The currency pair fell by the end of last week's trading by 49 points or -0.38%. This decrease was due not so much to fundamental factors as to technical ones.
Starting from January 7, the currency added 362 points (+ 2.83%), without corrections.
*Technical analysis:
- Locally:
The currency pair continues to be in the ascending channel which began on January 7th and so far it is not going to leave it.
- Globally:
For a currency pair, it will be extremely important whether it can overcome and gain a foothold above 1.3345.
The fact is that the daily analysis shows us that the activation of sellers is becoming more and more powerful from this zone.
* Orders and positions:
We closed our transaction for the sale of a currency pair from 1.3295 to 1.3250, due to the long-term consolidation of the price and the departure of the asset in the zone of potential purchases.
However, we do not recommend that market participants enter into transactions now, since the asset is between a rock and a hard place.
However, we expect to open sales from levels higher than 1.3330 with very short #stoploss at 1.3400.
(! Attention, these are preliminary price levels and we reserve the right to change them in our trading).
Best regards,
Ltd ”Wermelgion and Partners Investment”
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
Your attention a technical analysis of the currency pair #Usdcad:
* Commentary on the previous week:
The currency pair fell by the end of last week's trading by 49 points or -0.38%. This decrease was due not so much to fundamental factors as to technical ones.
Starting from January 7, the currency added 362 points (+ 2.83%), without corrections.
*Technical analysis:
- Locally:
The currency pair continues to be in the ascending channel which began on January 7th and so far it is not going to leave it.
- Globally:
For a currency pair, it will be extremely important whether it can overcome and gain a foothold above 1.3345.
The fact is that the daily analysis shows us that the activation of sellers is becoming more and more powerful from this zone.
* Orders and positions:
We closed our transaction for the sale of a currency pair from 1.3295 to 1.3250, due to the long-term consolidation of the price and the departure of the asset in the zone of potential purchases.
However, we do not recommend that market participants enter into transactions now, since the asset is between a rock and a hard place.
However, we expect to open sales from levels higher than 1.3330 with very short #stoploss at 1.3400.
(! Attention, these are preliminary price levels and we reserve the right to change them in our trading).
Best regards,
Ltd ”Wermelgion and Partners Investment”
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
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