USD/CAD Price Analysis: Bears are testing bullish commitments at trendline support USDCAD Technical Analysis
that has been building since the start of May. The following illustrates two scenarios, bullish and bearish, on the hourlyThe bullish scenario above sees the price testing counter-trendline resistance and the M-formation´s neckline. If the bears engage fully, then we could see the makings of a downside continuation into the 1.3470s.
A bullish scenario would see a break of the resistance and move into the shorts from the peak formation, moving back onto the front side of the bullish trendline. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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