Forex analysis: USDCAD

Forex analysis: USDCAD Daily-Chart

We are looking at the USDCAD Daily-Chart. As you see, I have highlighted an important area in my Forex analysis. It is a support level. After three unsuccessful attempts, the course was finally able to cross the area in April. Since then, we are back in a correction to the level. The course has now almost reached the support level. In my opinion it will very likely come to a reaction of the buyers here. This means many market players pay attention to this area and buy here. It is at least probable that the course will also get problems crossing the level this time. So, I'm very patient until the course will arrive in such an area. Here I will presumably open a long position.