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03mar22

USDCAD- 03Mar2022USDCAD- 03Mar2022 On the daily, USDCAD dropped after BOC raised their interest rate from 0.25% to 0.5%. This could strengthen CAD further and push the price down further. On the H4, price dropped below the previous demand zone around 1.26640. As Stochastic still has a bit of lower downside before support, price could potentially drop to the lower parallel channel trendline support at around 1.261365 before having a short-term bounce to 1st Resistance at 1.26760. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
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EURUSD- 03Mar2022EURUSD- 03Mar2022 On the daily, price dropped to a lower low before bouncing back to close higher and forming a bottoming tail. On the H4, price has dropped below previous lows of 1.1100 area. As RSI is indicating negative bullish divergence, price could potentially have a short-term bounce for EURUSD soon. However, price is expected to face strong bearish pressure at 1st Resistance at 1.1160. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
DXY - 03Mar2022DXY - 03Mar2022 On the daily, price faced bearish pressure at the trendline resistance and closed forming a topping tail. Once price can close above this level, we could expect DXY to surge higher. On the H4, price closed above previous highs at 97.73 before facing bearish pressure down. The price actions seemed to have completed the Wave (5)-(I) with further upside target around 98.420. In the case of price action closing back below 96.145, this wave count will become invalid. This is for personal record purposes only, not financial advise or solicitation of trade.
TVC:DXYLong
by TTMFS