Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

USDCAD races up to the 50% retracement and backs off

A.R Chowdhury by A.R Chowdhury
April 2, 2020
Reading Time: 1 min read
0

The 100 and 200 hour MA broken  earlier

The USDCAD has raced up to the test the 50% retracement and backed off . That level came in at 1.42935. The high price reached 1.42975 but could not sustain momentum.

Him him him him_The 100 and 200 hour MA broken  earlier

Earlier in the day (in the Asian session), the price initially moved lower and in the process, moved below its 100 hour moving average (blue line in the chart above).  However, after breaking back above the 100 hour moving average in the  North American session, the price based against that moving average before moving up to – and through- its 200 hour moving average at 1.42231. That 200 hour moving average is a risk level for longs looking for more upside.  Stay above, and the buyers remain in control.   

Yesterday and again on Tuesday, the price moved above the 200 hour MA, but ultimately failed on those breaks. Today is the 3rd break this week.  If the buyers are to take control, they need to stay above that level. Look for buyers to buy against that level.   

ForexLive

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post

European shares recover earlier losses

BEST INDICATOR FOR FOREX TRADING

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

NASDAQ index was back above the 10,000 level

June 30, 2020
WTI crude oil futures settle at $35.44

WTI crude oil futures settle at $35.44

June 1, 2020

Dow gets within 100 points of unchanged for 2020

August 24, 2020

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • What is Leverage AND Margin in Forex trading?

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.