Scenario on USDCAD On this chart, a triangle has formed, which is also part of a larger, larger expanding triangle from the daily timeframe perspective, and all of this is happening near the resistance at the price level of 1.41. In my opinion, the market will try to test this level again. If the price is rejected during this session, I can take it as the conclusion of the entire formation and I will then wait for a potential setup to enter a short.
Usdcad-position
USDCAD What do you see on UC? There are different scenarios currently running on this pair, I would really just be patient until the daily close confirms our bias.
With the weakness of USD it is very hard to conclude that we can go with a bullish rally.
On the other hand, our confluences are committed to our plan.
We just wait patiently for our daily candle close to decide our positioning for next week.
HAVE A NICE WEEKEND, DON'T FORGET TO BACKTEST YOUR STRATEGY AND EVALUATE YOUR PERFORMANCE.