USD/CAD Short Term USD/CAD has been respecting the following support/resistance levels. Good chance of the pair bouncing back to support.
Usdcad1h
long USDCAD @ 1h @ trading capability for this 51st week`16This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
USDCAD REVERSAL SIGNALUSDCAD has just spiked up triumphantly, however we expect it to lose its steam just as fast.
Price has touched the Daily Trendline (Upper), failing to break through. We expect a reversal is now imminent, provided the Daily Trendline does not break, as price is now significantly overbought.
We expect price now to fall back towards the closest support level, before a minor bounce and then continuation of the downtrend towards the next support level.
USDCAD 1H Upcoming Trade SetupsUSDCAD has broken through two different trends on the 1H, currently back in a downtrend.
We expect price to continue to S2 upon breaking S1, where it can find support at the Potential Reversal Zone before it begins a reversal to retest the 200 MA.
Trade Setups:
If it breaks S1 in the next few candlesticks, short to S2
Enter long at Potential Reversal Zone, aim for TP at Long TP Zone (200 MA). Partial TPs along the way if suitable.
Stop losses above/below the respected levels for minimal risk.
