Good Morning traders! Today we bring you our analysis of USD/CAD, as it is a pair in which we see a clear breakout in the bearish direction, and it may be a trading opportunity to take.
🔸As always, we will base our analysis on multiple timeframes in order to have a clearer vision of the market.
🔸In the daily chart, we see that the price is in a marked downtrend, and it found a bottom on March 18 in the 1.24000 area, and in that price range it kept consolidating for a little more than a month.
🔸We recently saw a breakout to the downside of this price zone with interesting strength, which is a bearish sign to watch out for.
🔸As the move is quite advanced, it does not offer any good trading opportunities worth taking.
🔸For this, what we plan is a corrective move that makes a pullback towards the broken zone.
🔸Ideally, we would like to see a flag-type corrective pattern, for example, that offers us a good risk-benefit ratio for our trade, since it is always important that we always earn more than we are risking.
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.