USDCAD in strong S/R zone
Updated
The USDCAD -0.40% , like quite a few other currencies , is at a major zone of influence. Though the day chart shows an up trend, nothing is for certain. I am slightly biased toward the upside, however, there is high impact USD news tomorrow (today for some of you) and I will wait for it to react before making my move.
Good luck to all of you, may the trend be with you.
Good luck to all of you, may the trend be with you.
Note
USDCAD has clearly broken the support line and is heading down. The next support is at 1.30000. If it retests the previous (now) resistance, I will look for a clear signal to short it. Emphasis on CLEAR. :)Note
USDCAD is approaching close to an S/R line, it looks like it could retest. It is a good opportunity to go short on a clear signal.Note
My Initial thought was that CAD was going to retest its lows and I could catch a quick short. It didn't and has broken through resistance and seems to be potentially resuming its up trend. Will keep an eye open to see clear setups for a long play. Cheers!
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