Hi everyone - under the assumption that we can expect weakness from the USD Index, could we see a turn in price delivery and expect price to trade back down on the USD/CAD?
My current forecast on this pair is to see price to impulse higher within a 1H OB taking out a liquidity pool of equal highs before trading down to the 62% FIB region where you have the following market references:
- Fair value gap
- Order block
- Breaker block
That would be an initial objective, but if the greenback gains further weakness we could even see price trade below the previous week low.
Safe trading.
Aman | SMC Wolf FX
My current forecast on this pair is to see price to impulse higher within a 1H OB taking out a liquidity pool of equal highs before trading down to the 62% FIB region where you have the following market references:
- Fair value gap
- Order block
- Breaker block
That would be an initial objective, but if the greenback gains further weakness we could even see price trade below the previous week low.
Safe trading.
Aman | SMC Wolf FX
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Want to master Forex trading?
📈 1-on-1 SMC Forex Mentorship (currently accepting students)
➡️ smcwolffx.com
📈 1-on-1 SMC Forex Mentorship (currently accepting students)
➡️ smcwolffx.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.