USDCAD- 23Mar2022
On the daily, price broke below 200MA + ascending trendline though w/o any confirmation yet. With daily Stochastic oversold and at support, we could expect a short-term bounce for USDCAD.
On the H4, price is still at confluence Fib support around 1.25915. It is oversold and due for a short term bounce. With H4 Stochastic indicating negative bullish divergence, we could expect USDCAD to have a short-term bounce to at least 1st Resistance at 1.26520.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily, price broke below 200MA + ascending trendline though w/o any confirmation yet. With daily Stochastic oversold and at support, we could expect a short-term bounce for USDCAD.
On the H4, price is still at confluence Fib support around 1.25915. It is oversold and due for a short term bounce. With H4 Stochastic indicating negative bullish divergence, we could expect USDCAD to have a short-term bounce to at least 1st Resistance at 1.26520.
This is for personal record purposes only, not financial advise or solicitation of trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.