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Usdcadsell

USDCAD is 1.38 going to be the reversal level!?! HUGE DOWNSIDEHave been watching very carefully around this resistance of 1.38 on USDCAD to see how price reacts. We have now had multiple rejections and another (FAKE?) push through followed by price quickly selling back off... we sometimes see these fake moves (breaking through levels) to catch the early sellers before the big moves happen... is this the situation with USDCAD?? I believe we have some downside coming, so like I explained I've got my eyes on a zone where if price fails it once more ill be opening a short for potentially a big move to the downside.
Short
by jamison_fx
1
Looking To SELL USDCAD Around 1.40 or Above...USDCAD is fast approaching the 1.40 level which is the start of a huge Monthly SUPPLY/SELL zone that is around 700 pips in range so to find a good R/R trade we need to zoom into the weekly charts to see if there is any areas there for possible setups. As you can see marked on the charts there is a nice Weekly SUPPLY/SELL zone starting at 1.40 this is where price actually broke down heavy from in 2020 it's also a tight zone so will provide an excellent R/R trade if the correct signal happens here. I will be looking for a signal on my FX Reversal King indicator on approach to 1.40 on timeframes from the 6hr to Daily, the first easy target if this trade triggers is the last high in the previous trend that was just taken out at 1.34 it can drop a little lower to 1.32 .
Short
by TheFxAce
USDCAD: is a Wyckoff distribution schematic on?Hi Traders, This is my view for this week on USDCAD: I'll be long on a Intraday perspective. I'll wait for the price to reach 1.36 area. After that let's see what will happen but, probably, 1.40 will be a key area for a reversal. I remind you that this is only a forecast based on what current data are. I really hope you liked this content and I would like to know what do you think about this analysis, so please use the comment section below to give me your point of view. Pit DISCLAIMER: Trading activity is very dangerous. All the contents, suggestions, strategies, videos, images, trade setups and forecast, everything you see on this website and are the result of my personal evaluations and was created for educational purposes only and not as an incentive to invest. Do not consider them as financial advice. ———————————
by kitchen_trading