USDCAD Bearish Scenario
Looking for price action to confirm sell entry at 1.308 area.
Wednesday Sept 5 we have high impact news at 8:30 EST followed by the CAD Interest Rate Decision at 10:00
Could see a gap fill considering we are in an obvious uptrend for the past 7 days, there would be confluence near a supply zone (resistance) during New York Session in the middle of the week... minimum Reward to Risk in this case is 2;1 and if we do see a bullish move expect price to surpass the quarter level of 1.325 HOWEVER I feel as if that would be more likely to occur on NFP this Friday.
Trading involves risk, im not a financial adviser and you need to hold yourself accountable for any trades you take :)
Wednesday Sept 5 we have high impact news at 8:30 EST followed by the CAD Interest Rate Decision at 10:00
Could see a gap fill considering we are in an obvious uptrend for the past 7 days, there would be confluence near a supply zone (resistance) during New York Session in the middle of the week... minimum Reward to Risk in this case is 2;1 and if we do see a bullish move expect price to surpass the quarter level of 1.325 HOWEVER I feel as if that would be more likely to occur on NFP this Friday.
Trading involves risk, im not a financial adviser and you need to hold yourself accountable for any trades you take :)
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