Advertising
Advertising
twitter
youtube
facebook
instagram
linkedin
Advertising

USD/CAD & WTI Price Analysis: Bears stepping in at 1.30 major level while WTI steady above $65/b in the Asian Session

USD/CAD & WTI Price Analysis: Bears stepping in at 1.30 major level while WTI steady above $65/b in the Asian Session | FXMAG.COM
Aa
Share
facebook
twitter
linkedin

USDCAD, when sellers finally managed to break below 1.30 major level in November 2020 and eventually continued to lower towards 1.20 level which that marked the low of 2021, and kept the USDCAD ranging between 1.20 – 1.30 throughout 2021.

In the Asian Session, buyers failed to push the price above R1 level which checked another confluences of short sellers stepping in. Another confluence that needs to be paid close attention is the RSI divergence that is a signal of potential downward movement to take place soon.

WTI, Price aimed for recovery after a sharp decline from October 2021 High at $85/b. In the Asian session $65 level remained solid to hold the price for not moving lower. Only if buyers managed to break above 100-200 moving average, then we might see a true potential upside movement.


Surya Teja

Surya Teja

Surya began his career in trading industry by working in a FX broker in Hong Kong, he then decided to start his own FX community -LCFXpro which quickly grew and attracted active members from around the globe. He is also one of the TradingView all time TOP-Authors. Surya also provides intra-day trading ideas with clear market direction on TradingView and linktr.ee/LCFXpro


Topics

Advertising
Advertising