Moving towards bearish Crab's PRZ

FX:USDCAD   U.S. Dollar / Canadian Dollar
$USDCAD is slowly but surely grinding its way up towards the Crab pattern's PRZ.
Despite intraday up and down swings, $USDJPY             managed to stay above its Fast SMA line and maintain its trend.

Two bearish scenarios for $USDCAD:
1. Completion of Crab pattern near 1.34-1.35 (see risks and potential rewards in the chart)
2. Breakdown of the Fast SMA line could lead to quick pullback (possibly towards 50 SMA line)

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As USD continues to advance, USD is now less than 100 pips from PRZ.
themarketzone themarketzone
This week's newsletters continue to monitor $USDCAD as it continues to stay above the SMA line and probably will reach Crab's PRZ on FOMC week -
IvanLabrie themarketzone
Same view, looking to short the very top if possible. I think it might be interesting to short GBPCAD as well.
Seems like we're heading to that PRZ after all.
It is getting there. I just wrote in my newsletters that I expect an explosive move following the kind of price action we currently see on $USDCAD. I think that we will see a bullish spike, cleaning all stop losses that wait above 1.34-1.35 and then we'll get the reversal.
I am a daily Trader so... I have to take higher time fr.
Focus on 1.2 than.. My opinion
Hi what you think about this. We should sell...?https://www.
sorry ab.
+1 Reply
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