USD/CAD bulls seeking a break of resistance for a convincing bullish bias. The monthly chart is dominant while price holds above strong support. USD/CAD is a mixed techcnial picture until the price breaks the weekly and daily resistance structure. However, the monthly chart is above a firm support structure. If the price does move higher, there will be a confluence between the monthly, weekly and daily charts for a firmly bullish bias. The following is a topdown analysis of the pair across the aforementioned time frames. Monthly chart: Bullish above strong support The price of the pair is holding above a prior resistance now turned to support and an upside extension is expected. W1 Chart: Bullish when above resistance The problem we have is that the weekly time frame shows the price below resistance. D1 Chart: Price needs to break resistance Tghe above illustration is what the bulls are waiting for. A break above the resistance will likely give rise to a restest of the structure from which bulls will look to get on board with as the price heads higher. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZD/USD: Retraces the biggest losses in 14-weeks below 0.6700 FX Street 2 years USD/CAD bulls seeking a break of resistance for a convincing bullish bias. The monthly chart is dominant while price holds above strong support. USD/CAD is a mixed techcnial picture until the price breaks the weekly and daily resistance structure. However, the monthly chart is above a firm support structure. If the price does move higher, there will be a confluence between the monthly, weekly and daily charts for a firmly bullish bias. The following is a topdown analysis of the pair across the aforementioned time frames. Monthly chart: Bullish above strong support The price of the pair is holding above a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
