On H4, the quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI has reached the oversold area. In this situation, a rebound from 6/8 (134.37) is expected, followed by growth to the resistance at 7/8 (135.93). The scenario can be cancelled by a downward breakout of the support at 6/8 (134.37), which could lead to a trend reversal and fall to the level of 4/8 (131.25).
On M15, the upper line of the VoltyChannel indicator is too far away from the current price, which means growth can only be triggered by a rebound from 6/8 (134.37) on H4.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI is testing the support line. In these circumstances, a test of 7/8 (1.3549) is expected, followed by a rebound from it and growth to the resistance at 1/8 (1.3793). The scenario can be cancelled by a downward breakout of 7/8 (1.3549), which could lead to a trend reversal and a decline to the support at 6/8 (1.3427).
On M15, after the test of 7/8 (1.3549), further growth of the pair will most probably be confirmed by a breakout of the upper border of VoltyChannel.
