USDCAD long
For my previous post and context see below:
It seems like this move lower is close to its end. That doesn't mean that price will reverse and make a new high but I think that we will see at least a retrace towards 1.37 and possibly even 1.40. I like to see a last leg lower at the beginning of the week towards 1.34 zone but I trade what I see. Therefore I like to see an impulse higher of lesser degree on lower time frames and buy after the minor consolidation.
There is also divergence which can be considered as a warning that the USDCAD is ready for a correction soon.
timstuyts.com
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It seems like this move lower is close to its end. That doesn't mean that price will reverse and make a new high but I think that we will see at least a retrace towards 1.37 and possibly even 1.40. I like to see a last leg lower at the beginning of the week towards 1.34 zone but I trade what I see. Therefore I like to see an impulse higher of lesser degree on lower time frames and buy after the minor consolidation.
There is also divergence which can be considered as a warning that the USDCAD is ready for a correction soon.
timstuyts.com
facebook/timstuyts
Note
Watch for a bullish impulse of lesser degree before the buy after a break out. If we break lower again look for a sell.
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Related publications
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.