Weekly bullish
Daily bearish
1hr waving bullish
minute bullish
Daily holding below MA as resistance 8370 showing support.
Idea: price is pulling back to MA zone to make a high for the week and probably fall back down before Friday close.
Next week. Probably a little bit more of a bull up then bears might continue the downtrend if we cannot break price zone around 8970. If this happens we could pinch from there and the market will feel a bit uneasy. Ultimately I see bearish. If dollar keeps weaking, commodities will continue to get stronger, cad pairs will have good bullish moment in favor of the Canadian dollar. During times of uncertainty people push their money into save havens and certain currencies as well as other assets. I feel this could play a role right now with a lot going on in our economy. Overall I see us in a channel trend to farther lower prices until we break out of the daily channel I have marked here. This would follow a USDCAD pullback up with NZDCAD going back up a little before CAD continues any strength.
Sitting close to the bottom middle of the channel is a tricky spot so volatility can happen here due to the different kinds of traders we have out there.
Thoughts? Share below! Thanks everyone!
Daily bearish
1hr waving bullish
minute bullish
Daily holding below MA as resistance 8370 showing support.
Idea: price is pulling back to MA zone to make a high for the week and probably fall back down before Friday close.
Next week. Probably a little bit more of a bull up then bears might continue the downtrend if we cannot break price zone around 8970. If this happens we could pinch from there and the market will feel a bit uneasy. Ultimately I see bearish. If dollar keeps weaking, commodities will continue to get stronger, cad pairs will have good bullish moment in favor of the Canadian dollar. During times of uncertainty people push their money into save havens and certain currencies as well as other assets. I feel this could play a role right now with a lot going on in our economy. Overall I see us in a channel trend to farther lower prices until we break out of the daily channel I have marked here. This would follow a USDCAD pullback up with NZDCAD going back up a little before CAD continues any strength.
Sitting close to the bottom middle of the channel is a tricky spot so volatility can happen here due to the different kinds of traders we have out there.
Thoughts? Share below! Thanks everyone!