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Loonie

Loonie, a nice risk-reward setup Based on current market conditions, this would be nicest BUY setup with a great risk-reward 👌 Happy Trading, Stay Green! ✌️ ➖➖➖➖➖➖➖➖➖➖➖➖➖ 💬 Please let me know your view about the idea 🔗 Check out the "Related ideas..." in the links below too ➖➖➖➖➖➖➖➖➖➖➖➖➖ 📌 Kindly note that Forexian is not a signal provider. The published idea is ONLY our views and analysis of the market! Forexian does not take any responsibility for your decisions and/or trades.
Long
by Forexian
USD/CAD - Where to next?! Right...Let's look at the bigger picture! Loonie CAD - Technicals - Weekly: Strong Bullish channel since 2017 - Been holding up well. Yellow line - from past triangle formation - Finding nice area of support. 200 EMA (GREEN) - Again been respected. We are struggling to pass the 200 EMA - as well as the key support areas of the channel, there might be a possibility of a pull back towards 1.34 half areas to 1.35 areas. We've had strong bear action occurring. However, pull back might be due till we decline further - However, be aware key trend-line areas from the past occurring and the 200 EMA - until we are not below the 200 EMA - the bulls could gain back into control. Things to keep in mind - Seasonality, add alerts to 200 EMA or key trend-line/channel areas as we are at support until it's broken! Long term time frame, indicates shorter time frame movement. Enjoy - Have a great week ahead. Remember: Just an idea, not a recommendation.
by Trade_Journal
USDCAD - It's been a tricky time for sure..! (INTRA-DAY IDEA!)USDCAD - Technicals - Keep in mind WTI. Technicals: In a descending channel support area! Bear Control: Under 1.32512 we have the bears in control could reach the area of 1.32356 any lower the next support areas. Bulls Control: Above 1.32891 and the next resistance areas. It's been a lot choppy in trading intra day wise. Majors heading to high areas again on EUR, GBP Etc. Keep in mind longer time frames. Fundamentals: Unemployment & NFP for this week. Remember: Just an idea, not a recommendation. Have a great day.
by Trade_Journal