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Usdcadsetup

USDCAD at top side resistanceUSDCAD CAD pairs are mostly influenced by the price movements in oil market USDCAD has break the major resistance zone 1.41000 and run up to 1.46800 and stalled The upward trend-line was broken in One hour chart We can expect short term fall back as its in overbought condition We can enter at the 1.44700 level which is 78.6% Fibonacci level Potential take profit will be 1.41750 which is 50.0 % Fibonacci level In between this level there is major deciding level is there which is 6.8% Fibonacci Leave your valuable comments below
Short
by forexorbit
1
USDCAD-opposite to the safe heaven assetsUSDCAD The CAD movement is mostly based on the movement in oil market. As the Canada is one of the major oil exporting countries and their economy is also depends on this type of oil based industries After touching the march low which is 1.33250 it has reached almost 1.40000 level We can expect short term fall back towards 1.36400 which is also a 50% Fibonacci Suitable long positions may opened at this level Potential take profit will be 1.40000 Stop lose may placed below the 100 EMA zone as i marked in the chart Leave your valuable comments related to this pair
Long
by forexorbit