USD/CAD has broken through a resistance line of a Channel Down and suggests a possible movement to 1.3096 within the next 8 hours. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before placing a trade. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 23 hours.
Related Posts
A final push possible on USD/CHF as it starts approaching a price line of 0.9055.
USD/CHF is moving towards a key support level at 0.9055. USD/CHF has previously tested this level 5 times…
Supports and resistances are primary concepts of technical analysis. USD/CAD is heading for an important price of 1.3685 – read about what this could mean for the future.
USD/CAD is en route to a very important line that will be a definite deciding factor of what…
Big movement possible on AUD/USD after a breach of 0.6674
The breakout of AUD/USD through the 0.6674 price line is a breach of an important psychological price that…