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CAD

USDCAD WEEKLY OUTLOOKHi everyone: USDCAD has been on my watch for quiet some time now. WE can tell the daily chart is way over extended without a proper pullback/correction. In order for it to continue to drop, it must pullback and form another lower high to continue downward. In the next few weeks, expect a bullish pullback to around 1.2900 level, then we are all going to enter a short position for a long term. I will be interesting in a bullish pullback, but main focus is the short once price action form a lower high on daily. Keep an eye on any potential long trade this week or next. Thank you for your support and feedback.
by jojofang0901
USDCAD SHORT - Make or break for CADThe CAD is approaching its make or break day, an 80% chance of a rate hike has been priced in by the market, if that does not happen this trade is likely to get stopped out. If it does happen expect them to extend lower possibly in an impulsive and sharp manner. As always the blue box is the area a turn lower for resumption of the major trend may occur and I will enter the market short when price gets in the box with a stop loss large enough to cover the box with a few extra pips for security.
Short
by WaveRidr