empty
 
 
id
Bantuan
Pembukaan akun instan
Platform Trading
Deposit/Penarikan

21.08.202112:36 Forex Analysis & Reviews: USDCAD reaches our target area but now provides bearish reversal signal.

In our analysis on USDCAD from August 18th we noted that we remain bullish USDCAD and we are expecting a move to new highs above 1.28. Price delivered and made a new higher high at 1.2947. However on the last trading day of the week the daily candlestick was not so much bullish.

Exchange Rates 21.08.2021 analysis

Red line- support

Green rectangle- major bullish support

USDCAD remains above the red upward sloping trend line support and the key green rectangle support level. Trend remains bullish as long as price is above the green rectangle support. Breaking below the red trend line support we will have our first sign of weakness.

Exchange Rates 21.08.2021 analysis

Friday's daily candle despite reaching new highs towards 1.2950, bulls were not strong enough to hold on the gains. Friday is usually a day where traders prefer to take profits, so this might be one reason why price closed lower than Thursday, despite reaching new highs. Nevertheless the daily candlestick from Friday is a bearish warning. Traders need to be cautious as this could be the start of a pull back towards the red support trend line.

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Alexandros Yfantis,
Analytical expert of InstaSpot
© 2007-2024
Manfaat dari rekomendasi para analis saat ini
Akun trading teratas
Buka akun trading

Tinjauan analitis InstaSpot akan membuat Anda menyadari sepenuhnya tren pasar! Sebagai klien InstaSpot, Anda dilengkapi dengan sejumlah besar layanan gratis untuk trading yang efisien.

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.