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Usdcadidea

USDCAD - Inflation cooling ?Hello Traders, Hope everyone is having a great April, our views on #usdcad are simply as per the chart. Should price remain above 1.33500, could see buys continue to 1.35000 price handle. Risk to reward 1:2.2 Chart indicators show points of interest / control PML = Prior Monthly Low and vice versa for PMH PWL = Prior Weekly Low and vice verse for PWH Let's see how this week finishes! Supporting Economic news : Canada’s annual inflation rate fell in March, according to a recent report by Statistics Canada. The rate dropped from 5.2% in February to 4.3% last month, with the decrease attributable to higher mortgage interest costs being offset by lower energy prices. Gold prices hovered around key levels in Asian trade on Wednesday as markets awaited more cues on U.S. monetary policy from a string of upcoming Federal Reserve speakers and reports. The yellow metal retook the HKEX:2 ,000 level on Tuesday as the dollar and U.S. Treasury yields cooled after a recent recovery rally. But further gains were held back by growing uncertainty over the path of U.S. interest rates, with recent hawkish signals from Fed speakers having spooked markets. Crude oil inventories Initial jobless claims CAD Core Retail Sales Could so mean possible downside in the #crypto market? As always, only trade what you can afford to lose. Trading Path
Long
by EvaultFinancialGroup
MitigationAfter successfully completing the three descending bullish drives, the market shot abruptly up, broke the structure and violated the supply zone to provide this swift bearish move to the breaker. Current situation indicates that price is bound to respect the area, but this candlestick with this long wick is saying otherwise. The ultimate goal is for the market to drop to the demand zone, mitigate it and shoot all the way up, but with the fair value gap in place and the order block zone in place, the market has to be approached with caution in order to capitalise on every move…
by tokelohomi