USDCAD Analysis: Bullish Momentum
The USDCAD pair has been extremely bullish lately, which is why it caught my attention. We can see multiple breaks to the upside, indicating a strong trend. Despite expecting a potential pullback in the near term, the overall trend remains very strong. This is why I have entered a position on the 1-hour timeframe.
Using the WiseOwl Indicator, we can see that it has been capitalizing on the trend with previous wins of +3.96RR, +7RR, and +5.42RR. Currently, we are in a risk-free trade with the stop loss set at breakeven (BE).
The EMAs (20, 50, 100, 200) are all aligned to support the bullish trend. Let's see how this plays out! 💪
Using the WiseOwl Indicator, we can see that it has been capitalizing on the trend with previous wins of +3.96RR, +7RR, and +5.42RR. Currently, we are in a risk-free trade with the stop loss set at breakeven (BE).
The EMAs (20, 50, 100, 200) are all aligned to support the bullish trend. Let's see how this plays out! 💪
🌟 Join our trading community for insights, strategies, and market updates! 🚀 discord.gg/eWPngqQsZS 🌐
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.
🌟 Join our trading community for insights, strategies, and market updates! 🚀 discord.gg/eWPngqQsZS 🌐
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.