USDCAD LONG for just abit longer?!
on medium term basis, loonie has proven the theory i have, traders are either liquidating, they are either risk on,{impulsive move} or they're doing nothing {ranging}.
on the weekly basis we have been on the liquidation phase and its heading to its prime, as indicated by the monthly closure of may breaking through the prior monthly level and the weekly as well.
at this point, the direction is clear, so to speak, we retest monthly structure right? i your answer was yes then me too. should we reject the blue line which is the weekly support and daily retest, the monthly structural retest is a stone throw away.
on the weekly basis we have been on the liquidation phase and its heading to its prime, as indicated by the monthly closure of may breaking through the prior monthly level and the weekly as well.
at this point, the direction is clear, so to speak, we retest monthly structure right? i your answer was yes then me too. should we reject the blue line which is the weekly support and daily retest, the monthly structural retest is a stone throw away.
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