Usdcaddaily
USDCAD will be messy....The dollar cad broke uptrend structure and now we are expecting some range bound trading until a clear direction is formed. At these levels, I am looking to enter a short position.
BEAR CASE
In the next week, I am expecting a slight move upwards to retest the bottom channel line and then for price to dump to retest 1.26
BULL CASE
Though unlikely, we need to consider the case where there is one more push up to retest 1.30, if the bottom of the channel line doesn't give us the resistance that we are looking for, and serves as a support for a up move, we may enter a long trade.
USD/CAD SELL NOW...
💹USD/CAD ⏬ SELL @ 1.27693
✅TP-1# 1.26844
✅TP-2# 1.26026
⛔️SL 1.28666
📊 Trade Accuracy 80% 📊
📊Follow Proper M.M & Also Use S.L 📊
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1.30 in sight for USDCADThe macro sentiment for the dollar is clear, we are expecting upside in 2022 and the fear is the market due to the OMNICRON strain as well as the fed's hawkish stance is accelerating this. Unless there's a macro uturn in the fed's policies, we should see price reach 1.30 some time soon.
USDCAD LONGS EDUCATIONAL 📉📉📉Its not a trading signal, i will look to long only if pric will return back into bullish orderblocks + imbalances confirmed with a HTF bullish market structure. Thats a perfect setup that i wait when i enter trades, htf structure combined with smart money concepts for entries.
What do you think ? Comment below..
USDCAD breaks out cleanly. More upside but stay nimble!The dollar cad finally breaks out of the channel that it was trading in and we should see more upside in the coming weeks. But this upside move is capped by strong resistance areas and there isn't much of a room to go. I'd control my risk and stay agile if I were you.