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Tuesday, May 24, 2022

USDCAD broken the higher low and reached -580 Points
1 mins well spent

USDCAD Analysis

USDCAD starts to bounce back from the higher low zone.

A Big bullish Engulfing Candle closed above the highs of last (previous) 2 bear candles. This confirms the Buyers Pressure.

After the confirmation of this Engulfing candle, USDCAD Buy signal is given. 

USDCAD market has gone down and covered up the bullish engulfing candle and also broken the higher low zone of the Uptrend line which reaches the stop-loss price.

But, still, USDCAD is moving in a parallel channel range. wait for the breakout from this parallel channel range to see big movements on USDCAD.

usdcad reach 580 points loss

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