The Last Light...Out.
Updated
In the matter of two days, UCAD dropped almost 226 pips. Thanks to the weak Canadian Unemployment report, USDCAD has seen some hopes, but is it all?
Too many technicals here. The pair is expected to bounce back at the regression channel. Penetration of the Bollinger Bands is not expected...so the pair might hit the upper wall and tumble down. The 38.2% Fib level can provide a good resistance. The pair is almost oversold , as indicated by the UO and Stoch RSI. The aftermath of the news will not last longer. It's time for a good selloff to end the week.
Best of luck!
~Riz
Too many technicals here. The pair is expected to bounce back at the regression channel. Penetration of the Bollinger Bands is not expected...so the pair might hit the upper wall and tumble down. The 38.2% Fib level can provide a good resistance. The pair is almost oversold , as indicated by the UO and Stoch RSI. The aftermath of the news will not last longer. It's time for a good selloff to end the week.
Best of luck!
~Riz
Trade active
TP- 1.27568SL- 1.28195
Risk/Reward: 0.19
Let's see!
Trade closed: target reached
Damn good !
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