Technical analysis of USD/CAD for June 12, 2018 888011000 110888 Introduction: Pivot point: 1.2961. The USD/CAD set will continue to rise from the areas of 1.2961. The support is found at the level of 1.2961, which represents the 78.6% Fibonacci retracement level on the H1 chart. The price is most likely to form a double bottom. Today, the major support is seen at 1.2961, while immediate resistance is seen at 1.3021. Accordingly, the USD/CAD pair is showing indications of strength following a breakout of the high at 1.2961. So, purchase above the level of 1.2961 with the very first target at 1.3021 in order to test the daily resistance 1 and move even more to 1.3049. Also, the level of 1.3049 is a great place to take revenue due to the fact that it will form a new double top. Amidst the previous occasions, the pair is still in an uptrend; for that we anticipate the USD/CAD pair to climb up from 1.2961 to 1.3049 today. At the very same time, in case a turnaround takes place and the USD/CAD set breaks through the support level of 1.2961, an additional decline to 1.2849 can happen, which would suggest a bearish market.The product has actually been offered by InstaForex

Leave a Reply

Your email address will not be published. Required fields are marked *