Stay tuned to JustForex’s latest new and Follow the market trend!
JustForex - What's now?
Note that the $5 per lot Cash Back promotion is now available only for "Standard" and "Standard Cent" types since the update of account types made by JustForex on March 24th.
This article is originally referred from JustForex News.
Yesterday, the USD/CAD currency pair kept local resistance at 1.31650, which caused the bearish sentiment.
The trading instrument has updated local lows. The Price Action signals a possible correction of the USD/CAD currency pair.
At the moment, the classic pattern of Outside Bar (H4 timeframe) has been formed, which is a reversal formation.
The USD/CAD quotes are testing the round level of 1.31000.
If the price fixes below 1.31000, one should consider selling USD/CAD.
The immediate goal for profit taking is the resistance level of 1.30500.
In the medium term, the USD/CAD currency pair may reach the level of 1.30000-1.29500.
Confirmations and entry points to the market should be looked for on lower timeframes.
When tracking a position, we recommend using a trailing stop!
Original Source: JustForex News