Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

0

No products in the cart.

Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

USD/CAD analysis for August 21, 2018

August 21, 2018 Analytics

[ad_1]

analytics5b7bfc129cd91.png

Recently, the USD/CAD has been trading downwards. As I expected, the price tested the level of 1.3013. According to the H1 time frame, I found that price is trading in the downwards regression channel, which is a sign that sellers are in control. I also found broken support trendline in the background, which is another sign of weakness. My advice is to watch for selling opportunities with that downward targets at 1.3000 and at the price of 1.2968.

Resistance levels:

R1: 1.3076

R2: 1.3111

R3: 1.3130

Support levels:

S1: 1.3022

S2: 1.3003

S3: 1.2968

Trading recommendations for today: watch for potential selling opportunities.

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

[ad_2]

Source link

Write a comment