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Usdcadstructure

USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS#USDCAD USDCAD is going up quite a bit right now. That's because OIL is down quite a bit and POWELL'S HAWKISH COMMENTS UPDATES came. They have been working to make USD STRONG in recent days. Due to this reason, STOCKS can move DOWN SIDE if the USD becomes STRONG like this. Right now, there is a very good BUY towards the UPSIDE because US DATA and UPDATES are POSITIVE. We think it will go up to the 1.3320 level before going down again with the MARKET RISK OFF SENTIMENT. Somehow USDCAD will likely SELL up to 1.2827 LEVEL. We wait until the DOWNSIDE TREND CONTINUES. FOLLOW THE STRUCTURE GIVEN.
by benny_marshall
USDCAD : SHORT TRADE SETUPUSD/CAD stays above 1.4000 and the key question is whether it will continue the recent upside move. At this point, the nearest major resistance level is located at 1.4575 and 1.42300. This level has already been tested many times and has proved its strength. We also note USD/CAD is struggling to continue above the recent highs formed towards the end of last week at 1.41500, therefore a pattern of lower highs may present itself on the chart which will be bearish for USD/CAD. On the support side, USDCAD, may likely head towards the major demand level at 1.3850. which is where sellers may be considering taking profit. From a big picture point of view, USD/CAD continues to trade in a wide range between 1.3850 and 1.4250, and the pair will need substantial catalysts to get out of this range. Risk Warning : The risk of loss in trading Foreign Exchange (FOREX) can be substantial. You should therefore carefully consider whether trading is suitable for you in the light of your financial condition. Goodluck !
Short
by Tim298
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