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Usdcadidea

USD/CAD - Potential Further Drop After RetracementHello Traders!, Happy Monday, I hope everone's had an enjoyable weekend, despite the current ongoings with whats happening in USA and other countries What Is The Markets Telling Us? We see a massive drop off on US dollar strength, possibly due to widepread protest which will cost the country millions in repair Upon New York Session opening we can see a retest of resistance @1.3730, followed by a significant drop, MAs are above price This is a great example to show how fundamentals and technicals co-operate within the market When Should We Enter? Will be looking to execute SELLS once price has reached our retracement area Although, we may see consolidation if there is a insufficient amount of volume, or even price may not reach our retracement area All in all, before entering for a SELL, it will be ideal to see some sort of consolidation/retracement followed by bearish bias before selling
Short
by AI_Expert_Advisor
USDCAD long trade ideaPlan: trendline and resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
7
USDCAD long trade ideaPlan : trendline and resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
8
USD/CAD - Break & Retest of Support StructureTrade Suggestion: Price to continue its downtrend after bounce off trendline resistance level D1 Timeframe shows price trading within descending triangle and has show bearish bias from touching its resistance DXY Dollar Index beginning to show some weakness after bullish surge Technical Analysis EMA Bearish cross of 10EMA & 50 EMA adds bearish confluence Broken support has held price before, showing rejection in the past Price has broken H4 support structure and has retested its level
Short
by AI_Expert_Advisor