We have broken previous peak formation low and we look to have more selling pressure. I expect to see more selling on this pair to at least cover over 3x its own ADR .
As you can see a new peak formation has been created and we are now looking for sell. So as you saw with the Fed Chair Powell hinting that Fed could begin to pivot and perhaps a lower then expected interest rate hike coming in DEC 14th .. cause the US Dollar to weaken and now we can confirm a new PFH has taken place ... We look to take sell setups on USDCAD ..
So as you saw with the Fed Chair Powell hinting that Fed could begin to pivot and perhaps a lower then expected interest rate hike coming in DEC 14th .. cause the US Dollar to weaken and now we can confirm a reset has taken place ... So we are interested in looking for sell setup until we at least get to a 4hr TF structure and over 3x ADR ..
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that,...