Usdcadbuy
USDCAD BUY/LONG DAILY DIVERGENCE + STRUCTURE BREAKIn this trade there are multiple confirmations for the USDCAD Buy/Long
USDCAD:
Divergence On Daily
Structure Break
Magic Magenta In Uptrend
Indexes:
DXY(US Dollar Index) showing signs of strength
CXY(Canadian Dollar Index) showing signs of weakness
Use Proper Risk Management
ALL GLORY BE TO THE MOST HIGH
SMILE AND GIVE THANKS
USDCAD BUY IDEA ** JUST AN IDEA. NOT A SIGNAL **
It seems like there is a multi time frame forming where if the trades breaks out of 1.36623 then the trade will look to go long.
If it rejects the line then we look for a short and retest.
From the weekly analysis we can assume the trade will look to continue an uptrend until it looses further momentum.
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USDCAD to climb from upside confirmation, potential bounce!
USDCAD to climb from its upside confirmation at 1.37297 where it could potentially bounce further to 1.38711.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.