USDCAD ShortI missed the original entry on this one, however if we get a pullback, I will be looking for another short trade on this pair.
Weve had a nice clean break of the 50MA and several rejections of the descending trendline and the resistance zone.
Daily is showing a clear downtrend with new lower highs forming.
Usdcadsell
USDCAD - Sell Opportunity Back To Prior Resistance | 1:3 RR📢EURNZD 1H - Technical Breakdown
📈Price action clearly broke upwards out of the descending wedge shown in my last tradingview analysis. Since then a failure to gain has taken place and bullish momentum seems to have come to a halt.
📈A short opportunity from the current market price presents a 1:3 RR trade aiming to bank 120 pips down to the prior wedge resistance line.
USDCAD Weekly Chart: Another 700 pip drop possibleUSDCAD can drop towards 1.3330 in the next 4-8 weeks. In the weekly chart, USDCAD reversed from the 1.4650 level.
This week's pullback is a minor correction in my opinion(especially if we look at the weekly chart).
So, I believe there's another 700-800 pip drop from here.
USDCAD 4H - Price Action Testing Descending Wedge Resistance 📢USDCAD 4H - Attempted Breakout / Potential Rejection
📈Price levels are currently testing the overhead resistance of the visible descending wedge chart pattern at 1.40050 that's been playing out over the last 3 weeks.
📊A break to the up-side with give a reason for buy positions over the coming days and weeks as momentum builds in favour of the bulls.
USDCAD to reverse from downside confirmation, potential drop!
USDCAD to reverse from its downside confirmation at 1.39455 where it could potentially drop further to 1.37420.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDCAD to reverse from downside confirmation, potential drop!
USDCAD to reverse from its downside confirmation at 1.39622 where it could potentially drop further to 1.37420.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.