The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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Early in the European session today, the USD/CAD pair attempted to halt its decline but was unsuccessful. It is currently trading around 1.3678. Bearish sentiment remains in place, as oscillators on the daily chart are gradually shifting into negative territory. The 14-day Relative Strength Index (RSI) is below the 50 level, indicating strengthening bearish momentum.
In addition, USD/CAD has fallen below the 9-day Exponential Moving Average (EMA), signaling a weakening of short-term price momentum.
On the other hand, resistance is located at the psychological level of 1.3700, above which lies the 50-day Simple Moving Average (SMA) near 1.3730. This is followed by a barrier at the 50-day EMA at 1.3742. A break above these levels could allow the pair to challenge the monthly high near 1.3775.
However, as long as the RSI remains below 50, the pair lacks the strength for such a rebound, and prices may continue to decline.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
