LOOKING AT CANADIAN DOLLAR STRENGHT FOR THE REST OF 2023!
We're looking to see a resumption of the bull run on the CAD INDEX as price is currently completing the second wave of the 3rd leg. A break of the red counter trend line on the weekly timeframe will give us a confirmation that wave 3 is about to begin.
It is important to know that the CAD INDEX is not a tradable pair but can be used a guide to trade CAD crosses. A strong CAD INDEX will give us an indication to look for sells on cad crosses and vice versa.
It is also key to note that this analysis is done on the weekly timeframe and will take a very long time to play out.
Disclaimer: This is not a trading signal or investment advice.
Let me know what you think in the comments. You can support by liking and sharing.
It is important to know that the CAD INDEX is not a tradable pair but can be used a guide to trade CAD crosses. A strong CAD INDEX will give us an indication to look for sells on cad crosses and vice versa.
It is also key to note that this analysis is done on the weekly timeframe and will take a very long time to play out.
Disclaimer: This is not a trading signal or investment advice.
Let me know what you think in the comments. You can support by liking and sharing.
