There is some bullish and bearish options here. The larger pip move is LONG
CAD has suffered as a result of the OIL prices. Price is currently at strong areas of support...there is signs of small short plays but I believe the overall play is LONG
Take a look at the chart. This is me identifying support/resistance areas in major structure. More naked forex practices From a fundamental perspective I am watching the price action and candle formation because OIL prices are continuing to rise which has a negative impact of the CAD dollar.
Literally just support/resistance, trendlines and a bit of EMAs to identify the major set up. There is always room to catch pullbacks on US30. I suspect the market to climb most of the week this is an NFP week so I think the market will be bullish until then....
US30 has overall still bearish markets with short bullish pullup....
Just take a look , not much to say. Created this Monday 4.18 before NY stock exchange opened.
I use trendlines in major structure and minor structure (when applicable), price action/volume/emas in minor structure to support entering a trade, major structure trends help with identifying TP and SL, I also use fibs to help identify levels of retracement, lastly I use support and resistance lines as well. We are in heavy fundamental time in the markets so...