Chart the Market (08/04/2026)
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Chart the Market (08/04/2026)

Published: 8 April 2026,03:16

Published: 8 April 2026,03:16

Chart The Market

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USDCAD, H4:                                                               

USD/CAD is trading lower after a breakdown below both the ascending trendline and the key support at 1.3865, which also aligns with a double top neckline. This confirms a bearish reversal structure and increases the likelihood of further downside.

Momentum indicators reinforce the bearish outlook. The MACD is expanding to the downside, while the RSI at 28 remains in oversold territory, indicating strong selling pressure, though nearing exhaustion levels.

If bearish momentum persists, the pair could extend losses toward the next support at 1.3800, with further downside toward 1.3735.

However, if selling pressure begins to fade, a technical rebound may occur, with prices likely to retest 1.3870 as resistance.

Resistance Levels: 1.3870, 1.3945

Support Levels: 1.3800, 1.3735

ETH/USD,  H4

ETH/USD is trading higher after a decisive breakout above the 2,165 resistance level, ending a prolonged consolidation range between 2,165 and 2,015. This breakout signals a shift toward a stronger bullish structure.

Momentum remains supportive, with the MACD strengthening and the RSI at 73 in overbought territory, indicating strong buying interest but also raising the risk of short-term exhaustion.

If bullish momentum is sustained, ETH could extend gains toward the next resistance at 2,335, with further upside toward 2,480.

However, if momentum weakens, the pair may retrace toward the 2,165 support level, with deeper correction toward 2,015 if selling pressure increases.

Resistance Levels: 2335.00, 2480.00

Support Levels: 2165.00, 2015.00

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