Looking at W1 chart this pair is making a strong correction after a EW cycle completion.
Other confluence signals on D1 chart
- Ema 200 acting as support - Fib overlapping - pinbar - cypher completion?
I expect a correction at this level, at least to the 0.61 fib retracement
Important: i published some CAD related pairs setups, just take one at a time, do not expose your account due to correlation.
Best regards.
Comments
IvanLabrie
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Looks good. Weak cad plays are bound to work.
FullTimeTrader
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Yes, the oil is bouncing from a strong resistance and the CAD is overbought (currency strenght analisis). Tomorrow BOC Gov Poloz Speaks, this could help also.
IvanLabrie
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Exactly, vital to perform that sort of readings.
Great insights as usual.