USDCAD looking for upside liquidity?
Based off my thesis that DXY is short/medium term Bullish. I think We can see an upward retracement in USDCAD. Price has road up to a Consolidation that was formed at the begining of march. My guess is that short positions are being liquidated from the move up and then will induce another load of sellers because traders will consider it a retracement. My guess is that price will dip into the most recent consolidation zone that was formed between 18th and 22 of march and then rise above the relative equal highs at 1.275 region.
Buy @ 1.25045
SL: 1.2435
TP. 1.2745
Keep an eye out on how price action forms around the 1.247 region if you are in the red.(could save 30 pips)
Levels to possibly take profits
1.2543
1.2628
1.2695
Buy @ 1.25045
SL: 1.2435
TP. 1.2745
Keep an eye out on how price action forms around the 1.247 region if you are in the red.(could save 30 pips)
Levels to possibly take profits
1.2543
1.2628
1.2695
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