USDCAD LONG
USDCAD – Price is heavily Oversold. A reversal In the market is heavily overdue and with the commercials wanting to Sell the CAD, Looking for a reversal pattern on the lower timeframes are something to look out for.
Commercial selling has now reached a 4-year high, only bettered by the high they set in 2017, when price was at the same level, we see today at 1.2000.
Significantly oversold, with monthly S2 at 1.2012. If we can see some bullish dollar price action and a reversal take place, I may look to get long this market after seeing a reversal in the market on our Lower timeframes.
Commercial selling has now reached a 4-year high, only bettered by the high they set in 2017, when price was at the same level, we see today at 1.2000.
Significantly oversold, with monthly S2 at 1.2012. If we can see some bullish dollar price action and a reversal take place, I may look to get long this market after seeing a reversal in the market on our Lower timeframes.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.