New Years USDCAD
Going into this next week/new year, we've got LOTS of bullish momentum to continue to the upside on the monthly and weekly timeframes. Once we drop down to the daily we start to see some buyers exhaustion. Which makes sense because we are on monthly key level of 1.36000.
To begin the new year, I am seeing some sort of bearish retracement at least until our 1.35800 zone. This meets 38.2, and trendline confluence. We are still in an overall uptrend, so at that point would be our best opportunity to buy. If we break structure, even better. We will then TRADE WHAT WE SEE, wait for the retrace, and enter short.
To begin the new year, I am seeing some sort of bearish retracement at least until our 1.35800 zone. This meets 38.2, and trendline confluence. We are still in an overall uptrend, so at that point would be our best opportunity to buy. If we break structure, even better. We will then TRADE WHAT WE SEE, wait for the retrace, and enter short.
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