USDCAD: Double Consolidation Chamber Ruining the Stable Move.

Hello traders,

USDCAD likely have chances for the downward move. In 4 hr timescale, the pair moving with the double wall protection setup (i.e) with double consolidation chamber. The pair needs to clear the 1.2970-75 resistance in order to target the northern numbers 1.30000 and 1.30450.

But the technical aspects might pull the price range towards down this magnetic pullback action could easily reach the number 1.28800. Moreover, the pair familiarity might catalyse the process and offers an instant halt for the price range 1.28650 after the 1.28800.

Traders plan your trades according to the Price range.

Happy trading.