(CAD | USD) Forex Trading Analysis Today Forex Forecast | July 08, 2024 | CADUSD Analysis

Forex Trading Analysis

Hello Guys today is Monday, July 8th, 2024 I am going to analyze the USD CAD currency pair let us start with the top two bottom l wave analysis inside the daily time frame of the trend is up in USD CAD currency pair daily time frame support is present at 1.3091 price level price action is the most likely going to drop to print bearish VX pullback and then rise up to print bullish wave why double zigzag leg in coming trading days decisive bearish break below 1.3091 support area is going to end up Trend in the daily chart of the USDCAD currency pair

At 4Hour time frame price action is sprinting lower swing highs into lower swing lows to me USD CAD pair Trend looks down in 4Hour time frame

In 1 hour time frame the trend is down in 1 hour chart today resistance is present at the 1.3736 price level price action is most likely going to rise to print bullish wave B pull back and then drop to print bearish wave C zigzag corrective league offers a chance to join the downtrend in USD CAD pair a decisive bullish break out above 1.3736 resistance level is going to end downtrend in 1-hour chart of United States dollar versus Canadian dollar currency pair

More specific the red color highlighted area offers a selling opportunity which is the the previous fourth wave of one lesser degree