Forex Analysis: USDCAD

The USDCAD was one of my favourite pairs in the last trading week.. Here we look again at the Daily-Chart. I have often pointed out that the price is clearly bullish. In 2017, the price managed to create rising highs and lows, which is the character of an uptrend. In addition, with the last major movement upwards, three important swing highs of the past could be broken. To support the importance of the actual level, I have drawn a trendline. Here, the course had the last few days strong problems continue to fall. Also I had a longtrade here, which has brought me some pips. However, I had to close the course before the important Non-Farm Payrolls news promulgation.

Now let's look at the 4h-Chart to complete our Forex Analysis. Here we see what the course has done after touching the trendline. You do not have to look at the chart for a long time until you can see that the course could also make higher high and low points. This is for me a sign that many buyers have opened a position here. Perhaps this year's high can be reached. I'll look at the price of the USDCAD next week to open long trades.