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GBPUSD primary daily trend still has a downward bias but market is showing some strength with the 3 rising tops formed. Pair remains highly volatile and and break of the consolidation area below 1.4230 may lead to a resumption of the move to the downside.
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- At Pivot, price consolidated and recover. Go Long at this level. SL at 170.85. TP at R2
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Sell if price breaks the support level for a move further down into previous resistance (which is likely to act as support).
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Professional SuperTrend Indicator for MetaTrader 4 and MetaTrader 5. Based on Average True Range (ATR), this trend-following indicator identifies market direction and generates clear buy and sell signals.
USD/CAD encountered a strong resistance area, with weakening levels of MACD. I think it is ready to reverse to the downside, with a realistic target being around S1 level
#usdcad #forex #fxtrading #investing #traders #fxtraders #trading #fx
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