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USD/ZAR 4H Chart: Channel Up

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 12, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    USD/CAD 1H Chart: Channel Down Comment: We hold a negative bias towards USD/CAD in the near term, being that the currency pair has formed a bearish channel. The pattern implies that the upside is limited by the resistance trend-line at 1.3275, while upward correction is to be expected near the lower boundary of the channel at 1.3225, which is also reinforced by the monthly PP and Nov 11 low. Once the latter level is out of the way, the 200-hour SMA at 1.3186 will become the next objective. On

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