RLinda Trading

Professional trader with more than 12 years of experience in Forex, gold and cryptocurrency markets, including work with various exchanges, brokers and market makers, a large amount of theoretical and practical knowledge. With these capabilities in mind, we offer you the best signal provider service. Best forex signals, crypto signals and accurate gold signals will allow you to become a winner in trading
R.Linda Trading - forecast

Trading signals for #USDCAD → Support retest. The price is in the range

FOREX forecast
USDCAD is under the pressure of the downtrend, but at the same time a sideways consolidation is forming, which can last for quite a long time.
The currency pair is falling from the range resistance and yesterday it already tested the key level 1.3317, but now, a few hours later, another retest is forming.
There is a chance that the market can break through the support at 1.3317, but only if the volatility declines and the price either forms a consolidation above (pre-breakdown consolidation) or below the level after the breakdown and then heads down.
snapshot
BUT! If the price makes a quick false-break and forms a consolidation above the level, there is a chance to use the "inside range trading" strategy. In this case the price can head upwards!
The moving averages are a strong resistance
Strong Resistance: 1.3411 and 1.34500.
Strong support: 1.3317
As we see the formation of a retest to the support, the chances of a breakout are getting higher.
Regards, R.Linda!