Price has broken previous support and is trending down, a perfect retest of broken structure, looking for it to continue down
price is at a level of resistance, judging from how price momentum has slowed approaching, the probability of price continuing its downtrend is highly likely
USDCAD LONG IDEA, many reasons to want to buy this move 0.50 FIB LEVEL HEAD N SHOULDER PATTERN
LONG IDEA Following price action, price has been slowly trending up, creating new highs and lows, my trade idea is to see price break above resistance come back for support then longing to Previous high.
long idea, price is back in my area of value, strong support
On Friday, we saw a continuation of selling pressure but price failed to break lower that the previous bearish candle, signaling that there might be some buyers at the current level waiting to take price higher, I will be waiting to see that buying pressure kick in and then exhaustion to get in on another sell
Fundamentally the dollar is gaining strength, a pull back to test support area at 91.520 could see more buyers coming in to take price higher, 91.520 is also in the 38.2 fib level, expecting a drop then potential buys once direction is reestablished. Find the direction of the dollar and all the other major pairs typically falls in line Note***This is just an...
DXY has shown massive strength on last week, a retrace to one of those key levels will be picture perfect to continue its bull run, find the direction of the dollar and the other pairs follow
Price has been stuck in a consolidation from the 12 of may, waiting to see price break below week support and come back for retest to go short.
Impulse correction impulse, GBPCAD gathering liquidity for the next drop
The dollar is currently in sideways movement, looking for a bounce from one of those key levels to continue its bull run
BREAK RETEST, clear bearish structure being formed