1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

USDCAD is testing channel resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 24, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDCAD has reached the upper border of the falling price channel on 4-hour chart, a clear above the channel resistance will indicate that the downtrend from 1.0852 has completed at 1.0138 already, then the upwards movement could bring price back towards 1.0852 previous high. On the other side, as long as the channel resistance holds, the bounce from 1.0138 is treated as correction of downtrend and another fall towards 1.0138 is still possible.


    Daily Forex Forecast

Share This Page