USDCAD OVERSOLD? LOOK FOR THE RETRACE.
Updated
HELLO ALL,
USDCAD has been on a year long downward trend. Right now it is at a point that it has made a possible daily LL and is basically oversold on the Daily RSI. If price action indicates a retrace, a long for this pair should be an easy trade. Use daily fib to determine your possible tp and or more longs. Also look out for that retrace to possibly go to the 50 ema as it has done in the past.
I am not a financial advisor, I am simply giving my opinion on this pair based on technical analysis and information a read and listen too. You all have a great weekend and good luck to all!
USDCAD has been on a year long downward trend. Right now it is at a point that it has made a possible daily LL and is basically oversold on the Daily RSI. If price action indicates a retrace, a long for this pair should be an easy trade. Use daily fib to determine your possible tp and or more longs. Also look out for that retrace to possibly go to the 50 ema as it has done in the past.
I am not a financial advisor, I am simply giving my opinion on this pair based on technical analysis and information a read and listen too. You all have a great weekend and good luck to all!
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Trade closed: stop reached
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