MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

USDCAD challenges major support

USDCAD remains in a bearish trend. Price has reached the lower triangle boundary of 1.3070 and it is imperative for bulls to step in and react now. Price is at major technical support level and moving lower will worsen the longer-term view for USDCAD.

analytics5e09e3970f07b.png

Blue lines - long-term channel

Red line - major resistance trend line

Black line -upper triangle boundary

Green line - lower triangle boundary

USDCAD is at the verge of exiting the long-term bullish channel. Price has been rejected several times at the upper triangle boundary and has so far been unable to challenge the red resistance trend line. This puts the long-term bullish channel in danger. This could imply a bearish 2020 for USDCAD as price remains below 1.33. Breaking below 1.30 will be a bearish sign that could push price towards 1.27 or lower. Short-term traders should be looking at the bullish opportunities now as price is very close to critical support and a bounce is highly probable.

The material has been provided by InstaForex Company - www.instaforex.com