Forex analysis: USDCAD

We look again at the USDCAD Daily-Chart. You can clearly see that the support level, which I highlighted in the last USDCAD Forex analysis, was broken down. The high points on the left acted as a psychological hurdle here.This means that as a Forex trader, I ask myself where the course  meets a psychological Level the next time. Here, nobody could oversee the trendline (dark green) during analyzing this Forex Chart. The course has now mastered a correction of several hundred pips. In my opinion we are still in a clean uptrend and a longer upward movement is not unlikely. It is a good idea to switch to smaller timeframes at this level to look for signs of a reversal near the trendline. When trading foreign exchange rates, it is important that you keep an eye on the risk-reward-ratio and never put too much weight into a single position. I'm curious to see how the journey continues.