USDCAD weekly analysis
As you can see from the below chart, the price of USDCAD did close at 1.41533. If you pay more attention to this 4hr chart of USDCAD, then you will be able to see that price is do respecting the trend since 24th of September 2024. On the 6th of December the price really did tried to break this Major Trend Line that we have marked, but the excitement of the Unemployment Rates, and the Non Farm Payrolls did shoot the price right back up covering approximately 110 pips just alone yesterday. The USDCAD price closed at a highly excited position, so by the time the market opens for the coming week, there migh be a possibility of witnessing a market break and then the price may come down to retest this Major Trend Line or potentially break past it and confirming te beginning of a Major Bear Trend. Bro In Finance will surely keep you updated if that happens. Follow forex news for more.
GBPUSD weekly analysis
However, for the notorious GBPUSD its only been few weeks since he started his Major Bullish Trend. And so far the GBPUSD price respects this trend line so well. The trend started on the 24th of November 2024. Even after the unemployment rates and non farm pay roll news, there was only 60 pip drop which is low comapred to the USDCAD. The price stopped at the weekly close of 1.27340. Due to a high number of volume held we might see a break in the GBPUSD price as soon as the market opens in the following week. Stay updated with Bro In Finance to get more Forex News.
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