Uscadsell
USDCAD Sell (shot term trade)Expecting potential rejection of the pair from the Major Supply Zone and pullback to the weekly central pivot around 1.2458. Stochastic and RSI showing the bearish diversion on 4hr and Daily charts therefore confirming my idea. OBV just dived below 200 MA. Stay tuned and lets see what will happen!
USD/CAD to continue downwardsUSD/CAD looks like continuing to fall. It has been following the bottom trend line and breaking support levels. CAD has been very strong and USD is expected to continue weakening so I do not think this will change soon. It broke support yesterday (14th Jan) and is testing it as resistance today. If this rejects the resistance then expect a fall to the trend line.
USDCAD potentially a big move setting upUSDCAD is testing the top of downtrend line from 2016-Momentum indicators are suggesting for the upside to be limited-it is likely to test the 61.8% fib to then start of fresh falls. I am looking for sell setups around 61.8% area for a bigger target towards prior lows.