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Forex-usdcad

MarketBreakdown | USDCAD, GBPAUD, GBPCAD, AUDCHF 1️⃣ USDCAD - Daily time frame The market is trading in a strong bearish trend. The price is following a major falling parallel channel. Now the price tests its resistance. For trend followers, it can give a nice opportunity to catch a bearish continuation. For breakout traders, bullish violation may initiate a strong bearish wave. 1.2725 next resistance 1.24 next support 2️⃣ GBPAUD- Daily time frame The price is trading in a mid-term bullish trend. Higher lows respect a rising trend line. For trend following opportunities, consider a test of a trend line. For shorting, wait for its bearish breakout. 1.83 next resistance 1.775 next support 3️⃣ GBPCAD - 4H time frame The price is currently ranging. Consider the boundaries of the range for intraday trading. For swing trading, wait for range breakout to the downside. 1.72 next support In case of its bullish breakout, bias will change to bullish. 4️⃣ AUDCHF - Daily time frame The price broke and closed below major daily support. Now bias is bearish and bearish continuation is expected. I am looking for an intraday confirmation to short. 0.70 next support Please, support this post with like and comment!
Short
by VasilyTrader
7
USDCAD shortWas wrong last time, and honestly was just impatient. I didn't wait for the market to come o me, but finally it has, just had a great entry @ .2755, hoping to take this to the lows but will be monitoring it closely. Oil has been on an absolute tear so I wouldn't be surprised if the CAD has some catching up to do. I think the best mindset to have is to be short this pair until we get a limit down day in equities, that will be the cue to look for longs and a massive rip in USD, but until then assume the USD is going south. Stop is to breakeven now.
Short
by bdverhaeghe
1