Denis Joeli Fatiaki
Independent Analyst
USD/CAD: A Potential price reversal to the downside
What is going on now with USD/CAD?
USD/CAD: The US dollar reached its second target at 1.32635 during the overnight session but failed to continue to the upside and fell to 1.32235 support in this mornings trades.
Our forecast
USD/CAD: The US dollar is showing signs of weakness to the upside in the four-hour price chart which indicates a potential price reversal to the downside. The US dollar needs maintain above its current support at 1.32235 to continue to the upside. The US dollar could fall to 1.32025 and 1.31800 if it fails at 1.32235.
Support/Short Target -1.32235, 1.32025, and 1.31800
Resistance/Long Target -1.32340, 1.32635, 1.32875
The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx
Chart 1: The short-term view of the USD/CAD price action in the 30 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the USD/CAD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
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