Udscadshort
$USD/CAD Possible SHORT but is there still more to go?The UDS/CAD has the Canadian Dollar getting stronger, Oil is slowly going where it needs to and the COVID is weak in the Country
With the BoC making a statement on Wed it looks like negative interest could be on the books!
So which way LOON??
USDCADFX:USDCAD [/symbo Have a few more ways to go in my opinion, but you never know what push some news can come with. and because the USD dollar is getting weaker at the moment this pair is expected to rise. especially if cad keep its value.
CORRECTION TOWARDS 1.34This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements
Daily
Pivot points: Price below Weekly Monthly Central, Accepted WS2 and MS1
Support/Resistance:At resistance
EMA: Below 55 and 21 ( 21 above 55)
Trend: Bullish with current correction
Structure: LH,LL,LH,LL currently LH
Bias: Bullish with correction
Psychological levels: 1.38 just above current price
Stochastic:Downwards approaching 30 levels
Fib: Within a buy zone from previous move however currently in correction
4H Chart
Daily Pivot: DR2 rested and accepted
Support/Resistance:Currently sitting at support
EMA: 55 was tested and accepted
Trend: Downwards - correction
Structure: LH after double bottom
Stoch: Overbought
1H Chart:
Suport/Resistance: Price sitting at support
Stoch: Oversold
