USDCAD (4HOUR) DAILY BREAK OF CRITICAL POINT
Updated
Increased downward momentum following break of up trend,
confirmed with a divergence of stochastics,
as well as what likes like a progressive downward spiral confirmed with MA's.
Following a bounce of critical monthly level.
Short stops in place with a reward/ risk 4:1.
Expecting large movements for the coming week.
confirmed with a divergence of stochastics,
as well as what likes like a progressive downward spiral confirmed with MA's.
Following a bounce of critical monthly level.
Short stops in place with a reward/ risk 4:1.
Expecting large movements for the coming week.
Note
Target 2 reached, looking for further movements to target 3.Note
Bounce off critical level as well as retesting trend line. Continuation to the downside expected.
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.