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USDCAD: Faces Corrective Pullback Threats

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USDCAD: With the pair triggering a corrective pullback, further decline is envisaged. On the upside, resistance is seen at the 1.2050 level followed by the 1.2100 level. Further out, resistance comes in at the 1.2150 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.2200 level. On the downside, support lies at the 1.1900 level followed by the 1.1850 level. Further out, support resides at the 1.1800 level and then the 1.1750 level. All in all, USDCAD continues to face corrective pullback threats.

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Source: http://blog.fxtechstrategy.com/usdcad-faces-corrective-pullback-threats/



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    • Ahmed

      Correction is always the story of a power pack movement and there is important thing that we realize it as quickly as possible. I am currently doing long term trading so whenever there is strong movement I go with good money management strategy and can easily collect 20-25 pips and thanks to OctaFX broker for providing me the swap free account option, it save so much money for me as all my trades are long term but due to this swap free option I don’t have to pay anything.

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