USDCAD H4 | Bearish breakout

USDCAD H4 | Bearish breakout

Bearish Reversal

USDCAD could continue with the downward momentum and breakout of the pivot at 1.3263, an overlap support, and price reversing to the 1st support at 1.30984, the overlap support.

Alternative scenario:
Price could bounce off the pivot at 1.3263, and rise to the 1st resistance level at 1.3363. the overlap resistance.

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.

Past performance is not indicative of future results.

High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% and 72% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top