USDCAD, ready to test highs?

Hello Traders,

Back and ready to start posting analyses, and forex related info in our blog! So from now on expect our blog to be updated at least once a day!

Would like to start with the chart I think has the greatest probability of moving, it would be the USDCAD.

The Canadian Dollar has been moving in a long term range in between 1.2985 and 1.1870, in the previous days it broker a medium term resistance level placed at 1.2335 thus having no more resistance levels in its way up to 1.2985. I think the market is headed that way.

When analyzing the short term charts, I see a good support level at 1.2564, so as long as the market keeps trading above 1.2564, I’m going to be looking for long opportunities in the short term charts, looking to take profits around the long term resistance level (1.2985).

I will update you if something important happens with this chart.

RL

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Raul Lopez

I’ve been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .