USD/CAD 1W LONG POSITION
LONG POSITION:
Weekly has now formed a bullish engulfing
pattern at 61.8 level as well as bouncing of
the Weekly Support level of 1.31200
and officially closing above the Weekly
Resistance level of 1.32600
I am now expecting an upwards trend continuation
to the Monthly Resistance level of 1.36500
Swing traders that use the daily and 4 Hour time frames
I suggest waiting for a retracement on your preferred time
frame and keeping in mind how the WEEKLY TIME FRAME
looks like and how the candle has closed. :)
Weekly has now formed a bullish engulfing
pattern at 61.8 level as well as bouncing of
the Weekly Support level of 1.31200
and officially closing above the Weekly
Resistance level of 1.32600
I am now expecting an upwards trend continuation
to the Monthly Resistance level of 1.36500
Swing traders that use the daily and 4 Hour time frames
I suggest waiting for a retracement on your preferred time
frame and keeping in mind how the WEEKLY TIME FRAME
looks like and how the candle has closed. :)
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