Long

USDCAD - Hitting Major Double ABCD/Gartley Buy Zone.

Updated

Has hit a major Double ABCD/Gartley Buy Zone. With the DXY also getting close to a reversal area this could be one to watch.
There is also the 61.8% level from the September low.
A multi month pattern that lines up nicely.

Enjoy the week.
I will be back posting more content going forward.

Comment

After dropping through the 1.3580 Double ABCD patterns it has now extended down to the next ABCD level. If it doesn't hold here then it will be 1.3500 area with more DXY weakness. Im now looking for a rally back tp 1.3600 where I will look for a retracement to Buy.
I will update as it goes along.
Enjoy the day.

Comment

After reacting from the ABCD @ 1.3550 level and rallying it has now broken lower again leading us towards the last level of support @ 1.3500 where a nice 3 Drive pattern is forming.
Update coming over the weekend but watch these levels.

Comment

We are at the final support level of 1.3500 where the 3 Drive completes @ the 78% level. Watching on Monday to see what sort of a bounce we get. If it opens lower then I will look for more of a bearish tone.
Def one to watch early Monday.

Enjoy the Week.

Comment

After rallying out of the 1.3500 area and having a PB into the US Data on Friday it now looks as though its setting up for a move up towards 1.3700.
It needs to hold above 1.3560 to start with. However if it gets below there then there is the chance of a deeper correction to 1.3541 putting it right in the middle of the 50-61.8% area from this move up.
Either way a break above 1.3610 would set us on the way to the upside.

A lot of things to watch here this week but I will update as we go.
Enjoy the week.

Comment

After not holding the PB zone I was looking at yesterday we now look at the deeper correction level of 1.3530-1.3540 where there are Double ABCDs and the 61.8% Ret Area from the December Low.
Also with the CPI Data out of the US tonight there will be some volatility around this.
Best option is to see what happens then go from there..

Comment

Updates tomorrow on FX Markets as we have Inflation data and the US Interest rate decision later. A major Change in Trend Window today as well.

Enjoy the day.

L_F

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