Usdcad1d
USDCAD
Take profit : 1.26300
After hitting the ceiling of the downtrend channel, it is expected to continue the downtrend again and be in the third downtrend.
Attention This is a personal Analysis. So when entering the transaction, pay attention to all the conditions as well as the news.
Best Regards.
USD/CAD (1D) Multi-day Short- Rejection at 200sma on the daily
- Chuvashov fork break
- Rejection at 38.2% fib
- CURRENT weakness in the USD
- Oil has a negative correlation with USD/CAD. Oil is currently trending bullish.
Possible supports:
- 200sma on the 4 hour
- Ichimoki cloud on the daily
- 23.6% fib retracement on daily
My first profit target is 1.29863 or the bottom fork/trendline, whichever is higher. A break of that and I aim to target the low of 1.24616 with a trailing stop loss.
