Title
USDCAD H4 | Bullish Bounce?
Type
Bearish Breakout
Preference:
Price is bouncing off our pivot line at 1.354 a multi-swing low support and is rising towards our resistance at 1.362 a pullback resistance level.
Alternative scenario:
Price could break through the pivot point at 1.354 and fall to the 1st support at 1.348, a swing low support.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.