USDCAD is looking bullish, with a break off a descending trend line and a formation of higher highs and a previous higher low on the 3rd touch of the counter trend I do expect cad to potentially rise up to 1.31
On the daily tf, just about an hour before the US Session. We have caddy showing us a potential Long leg to the upside that we can expect to reach over the next few weeks. Reason behind this is that market structure wise the pair is up trending, over the last week we made a strong bearish leg however it was not strong enough to break structure on the previous...
#USDCAD: Price is constantly making new lows within the falling wedge. Expectations are for price to go further down. For now rallies should be used to get into shorts with a target of 1.2525. A close above 1.2760 will negate the bearish bias
#Caddy sitting on a very strong demand zone. Should the bears manage to take price through 1.2580, we could see price freefall from there.
#USDCAD: Price broke through the bottom of the channel. 3 months of sideways action & the bears are ready to take price lower to test the 1.2600 level. More buyers are seen @ 1.2550 where price is expected to bounce
Look to buy the dips. 1.3420 should be the next target
USD/CAD has developed a nice bearish momentum after breaking the 4h timeframe trendline (around 1.30000). We are also in a descending channel on daily timeframe so the overall bias on the Loonie is bearish. The price has made a huge drop all the way to the 1.2920 area where it has found support. With the move to the downside yestersterday we have also broken the...